FCIK resents new Industrial Land Allotment Policy

FCIK resents new Industrial Land Allotment Policy
Representational ImageFile/ GK

Srinagar: Federation Chamber of Industries Kashmir (FCIK) has expressed resentment against new industrial land allotment policy announced by the government for Jammu and Kashmir.

A statement issued by the Executive Council of the FCIK has strongly condemned the land allotment policy and the multiple amendments made in the past few months regarding the land allotment.

“The portal jkinvest.in was launched and the investment guidelines were issued on 22.4.2021 for inviting the applications. Since then the portal was opened and approximately 2500 applications were uploaded, out of which appraisal of nearly 90 percent applications are already conducted. In the meantime High Level Committee meetings were also held and the designated committee has also allotted some huge chunk of land to few unit holders in Jammu and in Kashmir too,” the executive committee observed in the meeting as per the statement.

“Guidelines in terms of score points for investment have been made applicable to all applications received on portal and already apprised by the designated District level committee headed by Joint Director Industries. We fail to understand as to why the yardstick has been changed, when it comes to the local entrepreneurs?”, the FCIK statement reads.

“Government must be aware that after guidelines were leaked by some WhatsApp group, approximately 800 applications have been uploaded on portal within a short period of only 10 days, which becomes very suspicious”, the statement reads, adding “the general applicants were kept in dark and the applicants who have applied post issuance of guidelines by way of points were already in know of these guidelines. Approximately 2500 applications were received in seven months all over Kashmir Zone and 800 applications were received within only 10 days”, FCIK further said.

“It is worth mentioning here that the guidelines for allocation of points in investment are different in Kashmir and with special considerations for the Jammu Division. Whereas Jammu investment points include working capital also, giving more points in comparison to Kashmir Division”, Executive Committee members said, observing that working capital consideration as part of investment proposition needs rethinking “as working capital has never been a part of investment globally”.

FCIK statement further said that “entrepreneurs who have applied for land without any defined parameters are unnecessarily being put to the valuation method of newly introduced investment points. Whereas a major chunk of land has been allotted to few blue eyed entrepreneurs in J&K on the same previous system of first come first service basis along with appraisal basis.”

“Surprisingly, parameters now devised for the rest of the applicants, which means the large industrial units are getting preference and small prospective unit holders are not given any weightage in land allotment as they could set up more industrial units by providing them a small plot size of land”, the statement further reads.

Greater Kashmir