Kashmir Inc for declaring JK as 'free economic zone'
Suggests shifting of forces from commercial areas
Srinagar, Jan 23: Kashmir Chamber of Commerce and Industry (KCCI) has demanded that J&K should be declared as ‘free economic zone’ to boost investments and industry in the state.
At a pre-budget meeting on Sunday with Finance Minister Abdul Rahim Rather here, the chamber said the FEZ status to J&K would help its economy grow and attract more and more investors to start businesses.
The chamber also demanded that army and paramilitary forces should be shifted from important commercial areas for boosting investments and trade.
“State government should charge royalty on use of air space by helicopters in the state.”
The KCCI team led by its president Abdul Hamid Punjabi sought incorporation of a number of its suggestions in the upcoming budget.
Giving details of the meeting Punjabi told Greater Kashmir over phone that the chamber informed the FM about the problems being faced by the traders’ community here due to lack of electricity.
KCCI demanded that state government should take over power projects run by NHPC and other agencies in the state.
The KCCI presented a memorandum of demands to the FM raising among others following issues.
Public Private Partnership
While stressing for the PPP, Punjabi said: “PPP has become the preferred mode for the self sustained economic development of the state. It would be better for the state if the government will start more PPP projects,” he said.
He said the KCCI suggested to Finance Minister that other economic development sectors in farm and non farm sectors like agriculture, horticulture, sericulture, floriculture, apiculture (Honey), Pisci-culture (Fish Farming), mushroom cultivation, saffron cultivation, medicinal aromatic plants farming, sheep breading, poultry farming, cattle farming (Bovine) should also brought under PPP.
KCCI informed the FM that the he should allocate funds in the next budget for rehabilitation of sick units in Kashmir province.
KCCI further requested Finance Minister that exemption of VAT in respect of entire tourism sector should continue for at least five years. KCCI further suggested that tourism promotion fund should be increased in order to promote tourism and providing of soft loans to tour and travel taxi operators on subsidized interest rates.
In order to ensure availability of raw material throughout the year to the Silk reeling units, the chamber recommends a complete ban on export of silk cocoons for value addition and employment generation in the state through this traditional labour intensive sector.
KCCI suggested that all raw material used in these sectors should also be VAT exempted.
KCCI suggested that the present practice of checking of goods imported to valley at two checking points should be done away with and instead toll plaza at lower munda should be the only checking point.
The chamber demanded reduction in the stamp duty. “It should not be more than three percent for urban and one percent for rural areas,” Punjabi said.
The chamber proposed the state should follow Delhi model and Andhra Model to bring down the T&D losses.
The chamber suggested that in order to generate more revenue government should impose entry taxes at least 500 rupees on each passenger vehicles from outside state entering in the state.
There should also be increase in the rate of VAT for pulses, basmati rice, bakery, confectionary, cigarette, tobacco, gutka and alcohol.
Lastupdate on : Mon, 23 Jan 2012 21:30:00 Makkah time
Lastupdate on : Mon, 23 Jan 2012 18:30:00 GMT
Lastupdate on : Tue, 24 Jan 2012 00:00:00 IST
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