Excelsior Correspondent
JAMMU, June 28: A delegation of Laghu Udyog Bharati (LUB) led by Parveen Pargal (its president) called on Vikramjit Singh, Commissioner Secretary to Govt, Industries & Commerce Department and submitted a memorandum stating appreciation for new industrial package for J&K and also apprises about their demands.
During meeting Pargal said that they extend gratitude to Govt for the industrial package, announced by the Centre and hope that the package had come for the development of UT of J&K by making the way for the people of J&K to be in line with the other people of the country.
He pointed out that existing unit holders are the live example which are being studied by new investors before coming to UT of J&K and problems of the existing unit holders are now becoming a barrier for new Investment in UT J&K. He added that the Government should have intention to honour its commitment and include more and more unit holders under the schemes rather than finding ways to exclude the unit holders from the scheme.
“The matter is very serious and needs introspection on various issues which need to be addressed. The opportunities for existing industries as well as for Government of UT J&K concerning ownership rights, when afforded to entrepreneur will definitely unlock the value of the land and make it possible to offer the land as collateral to the financial institutions to meet their working capital requirements, the unit holder can expand, diversify into new products and/or increase capacity and look for new markets both within and outside the State etc. The ownership rights can be given on a one-time nominal cost which needs to be reasonable as the units have already paid the premium at the time of allotment (which covered the then cost of procurement and development and have paid leave rental all these years. Moreover, extending ownership rights to entrepreneurs is a regular feature in most of the States where after one generation 25 years of lease tenure, ownership rights are granted,” Pargal maintained.
He also demanded removal of Mustard oil from Negative List. At present edible oil industry is covered under Inverted duty structure as the output of both oil and oil cake is taxed at 5% whereas the packing material used in the manufacturing process is taxed at 12% and 18%. There is delay in the payments from the government departments. There are many industrialists who supplied their finished products to different Govt departments and through SICOP as well but their payments are delayed and pending since 2017, he added.
The Commissioner Secretary heard the deputation very patiently and assured that all the concerns which were put before him will be addressed on merits and whatever possible will be considered and expedited.
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