Federation Chamber of Industries Kashmir (FCIK) welcomed the release of Rs 250 crore interest subvention for revival of Business and industry in Jammu and Kashmir.
In a statement the FCIK president Shahid Kamili said that release of Rs 250 crore interest subvention reflects the seriousness of Lieutenant Governor Manoj Sinha in handholding the businessmen who have immensely suffered over the years. He also said that it will boost the morale of the businessmen of J&K who are struggling to keep their business afloat in this pandemic which is proving disaster for the GDP of J&K like other states.
Kamili said that earlier installments worth Rs 500 crore as interest subvention has helped the businessmen to revive their units to a larger extent. He expressed hope that government will continue to take further steps in coming days to boost the economy of Jammu and Kashmir and help people to overcome difficulties with due attention to business community. “The interest subvention by the Government would provide a major relief for the business sector in J&K. I hope the Lieutenant Governor would continue such initiative in J&K till the economy is back on track,” he said.
Ovees Qadir Jamie, Secretary General FCIK said that the FCIK is with govt in the pandemic situation. He demanded that the pending Interest Subvention may be released before the Eid festival. FCIK also expressed gratitude to the Advisor to Lieutenant Governor Baseer Ahmed Khan, Chief Secretary B V R Subramanyam, Financial Commissioner Finance A K Mehta, Principal Secretary Industries and Commerce Ranjan Prakash Thakur and J&K Bank Chairman R K Chibber. FCIK highly appreciates FC Finance for carving out Rs 250 cr amount at this critical hour when whole country is fighting a dreaded virus.
The FCIK president sought intervention of LG Sinha to formulate a financial package to compensate the business community for the losses suffered after August 5, 2019 and worsened by the two waves of COVID19 which led to shutdown of business activities.