Excelsior Correspondent
JAMMU, Apr 27: Expressing serious concern over the `total neglect’ of the pending issues of the Industrial sector, Federation of Industries, Jammu (FOIJ) has said the JKUT Administration must take steps to restore confidence among the J&K entrepreneurs.
An emergency meeting of the FOIJ was held here today under the chairmanship of Virendra Jain, Chairman FOIJ. The meeting was attended by Co-Chairmen- Lalit Mahajan, Jatinder Aul and Gagan Jain along with secretary general Viraaj Malhotra and convenor Sanjay Langar, where threadbare discussions were held on multiple pressing issues confronting the Industrial sector of J&K.
The members expressed serious concern over the deteriorating condition of the existing Industry of J&K. The members were disturbed over unattended fiscal incentives and turnover incentives. The office bearers strongly demanded extension of SGST reimbursement under SRO 63 to existing units undertaking substantial expansion, change or modification of line of activity, diversification or addition of new manufacturing lines. The need for immediate rollout of working capital interest subvention and marketing support, was also emphasized to ease the prevailing liquidity crunch faced by Micro/Small Industry.
Deliberations were held on the adverse impact of the Inverted Tax structure on the working of existing units and the Federation sought urgent rationalization of the same.
Raising the issue of “Ease of Doing Business”, the members highlighted inordinate delays in setting up and running industrial units due to multiple NOC’s and stressed the urgent need for a time-bound `Single Window Clearance’ system.
The Federation further demanded removal of unnecessary riders on fiscal incentives which are hampering Industrial growth and strongly objected to the unwarranted demand of NOC’s from SICOP for change in constitution within the family, terming it against the very spirit of `Ease of Doing Business’.
The Federation resolved to submit a detailed memorandum to the Lt Governor, Chief Minister and Commissioner Secretary, Finance and Industries and Commerce for early redressal of these pending issues.
FOIJ also congratulated the newly elected team of office bearers of Birpur Industrial Association. The house expressed confidence that the new team will work actively for the welfare of Birpur Industrial units.
Prominent among those who attended included- SB Abrol, Tarun Singla, Ankur Jain, Jatin Sachdeva, Sharad Malhotra, Inderesh Badyal, Ajay Mahajan, Jatinder Singh and Rishikant Gupta.
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