Srinagar, Sep 12: Maintaining that industrialization was key to economic prosperity, Minister for Industries and Commerce, S S Salathia today called for expeditious implementation of industrial projects in the state, adding that targets assigned should be achieved in full at any cost.
 Speaking at a review meeting of various departments under the administrative control of industries and commerce department, Salathia, according to an official statement, said a whopping Rs 122 crore is available as annual plan for industries sector which should be spent in full so that a congenial industrial atmosphere is natured in the state.
 He said promotion of Industries was better solution for the burgeoning unemployment problem besides achieving economic prosperity. He warned the officers of stringent action for failing to achieve both physical and financial targets.
 He urged for making full use of the funds available for development of Industries. “Performance with regard to achieving physical as well as financial targets shall be reflected in Annual Performance Reports (APR) of the concerned officer,” Salathia maintained.
 Urging the need for working in double shifts, the Minister said the working season in most of the areas of J&K State is limited due to winter season adding that the officers should work with social obligation to complete the physical and financial targets.
 He said, in order to encourage Industrialization in the state, about Rs 3 crore are being provided as package of incentives among various industrialists during the current fiscal, whereas Rs 50 lakhs shall be expended for rehabilitation of sick units.
 The meeting was informed that as many as 368 industrial units have been rendered sick during last 20 years, out of which soft loan has been sanctioned in favour of 59 units by State Level Rehabilitation Council. (SLRC).
 As many as 30 sick industrial units have been provided soft loan through SIDCO where as cases of 29 units are pending with J&K SIDCO for disbursement.
 The Commissioner Secretary Industries and commerce, Umang Narala and heads of various departments and corporation under the charge of Industries Minister were present in the meeting.

Lastupdate on : Mon, 12 Sep 2011 21:30:00 Makkah time
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