Srinagar: Federation Chamber of Industries Kashmir (FCIK) has sought marketing support to the local industry from the J&K government.
A press statement issued here stated that a delegation of FCIK led by its President Shahid Kamili called on Additional Chief Secretary Finance Atal Dulloo along with Commissioner Commercial Taxes Showkat Aijaz Bhat.
President FCIK put forth various demands which include marketing support to the local Industry as the industry is heading towards sickness without marketing support.
Further, he said that despite “Delayed payments Act” in force, the due payments to the enterprises are not being made in time resulting in huge losses incurred by them besides undermining their reputation with creditors and bankers.
FCIK Secretary General Ovees Qadir Jamie highlighted that government should purchase from local Industry rather than GeM portal orders. “As recently there has been an order worth crores of rupees which has been taken over by outsiders. The new Industrial Policy should be made favorable to unit holders and he informed that the previous orders should be kept in force not in abeyance, particularly related to Marketing as the finance department had issued the order which has made majority unit holders idle without any work,” reads the statement.
Kamili said the enterprises have dried up their working capital by paying off towards their establishment cost during the lockdowns and therefore requires support from the government to overcome their liquidity crunch.
FCIK demanded MSME units who are not in a position to pay interests / installments on their accounts and have applied for OTS (one time settlements) may be allowed through fast track mode. Respective banks may be instructed accordingly. Further, the accounts may be re-structured immediately without losing any further business opportunity. He added that the Amnesty of PDD bills may be extended up to December 31, 2021,so that MSME units are able to pay off these dues to PDD as maximum payments are held up with Government Departments and business losses due to post 5th August 2019, followed by Covid-19 pandemic till now.