Excelsior Correspondent
SRINAGAR, Sept 23: National Conference (NC) leader and MP, Hasnain Masoodi today rued Government inaction in reviving sick industrial units in J&K.
Masoodi claimed that small scale manufacturers in J&K see a bleak future for themselves.
“Due to COVID lockdowns our businesses instead of growing turned into non-performing assets and more than 30 per cent unit holders have become totally bankrupt in J&K after August 2019,” the NC leader maintained adding that the Government had last year promised a package for industrialists in J&K but so far there is no such package.
Suggesting that the Government should provide capital infusion and relief packages to revive sick industries in J&K, Masoodi said: “When local unit holders are desperate and are unable to run their units properly then how do you expect outsiders to come and invest here.”
Masoodi further said that if due attention is paid to these units, they will create employment.
“The Government should put emphasis on local products and make J&K self-sufficient. Helping these units come to life can contribute to the economy of J&K,” he said.
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