Don’t impose any new tax: FCIK

Demands return of NHPC-run power projects to JK

GK NEWS NETWORK

Srinagar, Feb 4: The Federation Chamber of Industries Kashmir (FCIK) today urged Finance Minister Abdul Rahim Rather not to impose any new tax in the upcoming budget as “the people are already facing the pangs of inflation.”
 President FCIK, Zahoor Ahmad Bhat speaking at a pre-budget discussion with the Finance Minister today suggested the government should make the collection of taxes effective for resource mobilization. “However, it should not impose any new tax,” he said.
 The FCIk suggested that the government should concentrate on power reforms in the state which would in turn reduce the expenditure on purchase of power.
 Nazir Ahmad Shikari, Secretary General (FCIK) giving details of the meeting with the FM told Greater Kashmir that the federation raised several important points in the meeting.
 He said the FCIK suggested that the government should formularize a long term strategy to downsize the government machinery to reduce the burden of employee salary on the state exchequer so that more funds get available for the developmental works.
 “The government should take immediate steps to take back the Power projects from NHPC which have remained in operation for more than 20 years.”
 “The government should focus on reducing the transmission and distribution losses in the power sector which are hovering around 70 per cent for past so many years. The government should also fix a target for PDD to reduce the T&D losses by a minimum of 10% each year for next five years.”
 The government may impose a cess on large corporate bodies who earn huge profits from the state without contributing anything towards social uplift.
 “The government may establish a Mineral Development authority with proper mineral development policy to explore the huge Mineral deposits of the state.”
 The federation suggested to the government to impose entry tax on import of all such items which are produced by the local industry. “The government withdraw the entry tax exemption on import of Machinery allowed to outside contractors as this exemption is not given to local firms,” the federation said.
 The Government should create a lapse account for the Kashmir Valley as most of the funds allocated to Kashmir Valley get lapsed due to late release of funds and short working season.
 The government should encourage private investment in Power sector and the mini Hydle projects up to 25 MWs should be kept reserved for local entrepreneurs.
 The Government may provide sufficient developed industrial land for promoting the local industry.
 The government may provide a corpus of Rs 100 crore to rehabilitate the sick industry.
 The Government may stop double taxation i.e. Vat and GST of local contractors as the outside contractors pay only GST on the works.
 The state may remove all the harsh clauses of the VAT act which hamper free and fair trading.
 The Valley-bound trucks are checked at Lakhanpur and Lower Munda while as Jammu bound trucks are checked only at Lakhanpur. FCIK demands that the Valley bound trucks should be checked only at Lower Munda.
 The Government should remove the impression that in the Kashmir region VAT collection is less as compared to Jammu by asking all C&F agencies to bill their product from the place where it is actually consumed, the federation said.

Lastupdate on : Mon, 4 Feb 2013 21:30:00 Makkah time
Lastupdate on : Mon, 4 Feb 2013 18:30:00 GMT
Lastupdate on : Tue, 5 Feb 2013 00:00:00 IST




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