Valley business, industrial chambers seek transfer of power projects to JK
Demand 10-year tax holiday for Kashmir
Srinagar, June 8: Demanding compensation for losses J&K incurs on account of Indus Water Treaty, Valley’s apex business and industrial chambers today urged Prime Minister, Manmohan Singh to transfer Salal, Dul Hasti and Uri power projects to the state.
The two apex bodies— Kashmir Chamber of Commerce and Industry and Federation Chamber of Industries Kashmir— stressed the need for developing the power projects in the state under BOOT (Build, Operate, Own and Transfer) by the NHPC.
“The demand for compensation can be respected by transferring these power projects to the state, “said President FCIK Shakeel Qalandar.
“We want the royalty to the state on the ongoing or future power projects by NHPC should be enhanced to 25 per cent from the existing 12,” he added.
Sharing with Greater Kashmir the details of the meeting between Prime Minister and FCIK, Qalandar said: “We pleaded for incorporation of BOOT in all such projects and transfer of these projects to the state after 30 years or less period.” President KCCI Nazir Ahmad Dar said the chamber had also demanded hand over of Salal, Dolhusti and Uri projects to the state in accordance with the recommendation of the Rangarajan Report.
“The report had suggested the transfer of the power projects to the state and we insisted on it,” he said adding that the chamber also laid stress for BOOT in power sector. “The period of transfer (of power projects developed/being developed by NHPC) should not be more than 20 years which will cover the investment and also give reasonable profit to NHPC,” he said.
“We asked the Prime Minister that the centre should provide for a corpus of Rs 15000 crores exclusively for construction of power projects in J&K.”
“We want the central government to provide us the amount in the same manner as it has provided Rs. 10,000 crore for construction of Jammu-Srinagar highway. This will to some extent, compensate us for the losses we suffer due to Indus-Water Treaty,” Dar said.
The two bodies, according to their presidents, raised various impediments the traders were facing in the cross Loc trade with the PM.
“We informed the PM that the cross LOC trade is confronting number of problems. We insisted that modalities need be put in place to ensure hassle-free trade across the LoC,” Qalandar said.
The FCIK has also demanded enhancement in the list of tradable items “in order to include all industrial, horticulture, agriculture and handicraft products produced in the J&K state.”
The KCCI, according to Dar, informed the PM that there was a dire need to put in place the proper infrastructure including banking and communication facilities, multi-entry permits for traders and inclusion of demand driven products. “We insisted for upgrading the LoC trade from its barter system to a normal/regular trade,” Dar said.
The KCCI asked the PM that that a trade delegation from Kashmir should be allowed to visit to AJK. “The exchange of trade delegations should be made possible on regular basis so as the traders know each other’s requirements for trade,” the KCCI demanded.
“The KCCI also demanded that the 21 items approved by the government for trade need be enhanced. We also demanded that the ban on certain items like Zeera, Aijwani and others be removed,” he said.
Both the bodies demanded a 10-year tax holiday for Kashmir. “Kashmir has been worst hit by the abnormal conditions and our economy has also suffered. In order to enable us to recover our losses to some extent we urged the PM to declare a Tax Holiday (Income Tax, Wealth tax, and Excise) for at least 10 years. Pending grant of tax holiday the Income Tax Department should keep in abeyance the provision relating to scrutiny and search and seizure provisions,” said Dar.
KCCI has also put forth the demand of Kashmir Specific Packages to the PM. “Unless we have Kashmir specific incentives to the all sectors of economy the economic health of Kashmir will not improve. We want Kashmir Specific Incentives because policies announced earlier have not attracted investors to Kashmir,” Dar said.
“We also raised our demand for granting of a onetime debt relief to the Trade, Tourism, Handicrafts and Industrial sectors of Kashmir. Debt Relief for sick units which was under active consideration of the Central Government has still to be released. We requested the PM to intervene so that the grant of this long awaited debt relief for sick units may be expedited,” he added.
Compensation on account of losses due to land row agitation to Trade, Industry, Tourism and Horticulture sectors which was announced by the then Home Minister of India, Shivraj Patil was also on the agenda in the meeting, he said.
The two bodies also demanded the removal of paramilitary forces from the enterprises, industrial estates, orchards, public utility buildings etc.
“The FCIK strongly demanded that the paramilitary forces should be vacated from all such places and suitable compensation on account of damages and rentals should be provided to the concerned,” said Qalandar.
The bodies have also demanded the proper accessibility and connectivity for the improvement of the trade in the state.
Both the bodies insisted the PM to start International flights to places like Dubai, Middle East, Bangkok, Singapore, Malaysia, Jeddah and Riyadh from Srinagar International airport.
“The construction of the International Airport at Srinagar has raised the expectations of the business community quite high. The lack of basic infrastructure for international cargo operation and other offices required for conducting of import and export of goods from this Airport is not functional. A weekly flight which was operational to Dubai has been suspended for unknown reasons. So the demanded flights will benefit our traders for international trading activity and tourism sector,” said President KCCI.
Lastupdate on : Tue, 8 Jun 2010 21:30:00 Makkah time
Lastupdate on : Tue, 8 Jun 2010 18:30:00 GMT
Lastupdate on : Wed, 9 Jun 2010 00:00:00 IST
- MORE FROM BUSINESS
- Valley business, industrial chambers seek transfer of power projects to JK
- Videocon d2h launches active music space
- Handicraft deptt forms spl checking squads
- Unemployment needs urgent attention: KCCI tells PM
- FCIK seeks early implementation of modified industrial package
- Langer brings laurels to J&K
- LoC traders to hold meet
- Dr Kiran Bedi to visit Aryans on June 14
- Tourism returns to normal
No ambiguity please: Mirwaiz tells Delhi
GK NEWS NETWORK
Srinagar, June 8: Commenting on the Prime Minister Dr Manmohan Singh’s speech at SKICC here on Monday, the Hurriyat Conference (G) Chairman Syed Ali Shah Geelani on Tuesday said there was nothing new in More
- Srinagar City
Srinagar, June 8: Since the regime of first Prime Minister of India, Pandit Jawahir Lal Nehru, the Nehru Guesthouse on the foothills of Zabarwan, owing to its picturesque locale, has been the hangout for More
SMOKING BAN IN PUBLIC PLACE
GK NEWS NETWORK
Jammu, June 8: Unable to curb the smoking in government offices, the government has issued another circular directing administrative heads of all the departments to ensure implementation of anti-smoking More
- South Asia
PRESS TRUST OF INDIA
New Delhi, June 8: A Delhi court has sentenced four men to life imprisonment for killing a businessman following an altercation over parking a two-wheeler three years ago. Additional Sessions Judge More
Demand 10-year tax holiday for Kashmir
Srinagar, June 8: Demanding compensation for losses J&K incurs on account of Indus Water Treaty, Valley’s apex business and industrial chambers today urged Prime Minister, Manmohan Singh to transfer More
PRESS TRUST OF INDIA
Istanbul, Jun 8: India and Pakistan must try to resolve the “core issue” of Kashmir and other outstanding problems to start a “new era” of trust, amity and friendship in the region, Foreign Minister Shah More