Srinagar, Dec 1: Jammu and Kashmir Government has set in motion an exercise to retrieve un-utilised industrial land allotted to industrialists across all the industrial estates in the Union Territory.
A senior official of Industries and Commerce Department informed Greater Kashmir that the process to retrieve the land from industrialists or unit holders who have failed to utilise it for operationalising their units within stipulated time will be retrieved from them.
“There are many instances where the unit holders have failed to start their units for which the land was allotted or in some cases the unit holders have shut their activities while they continue to have possession of the land within premises of industrial estates,” he said. The official added that the government will begin an eviction drive for retrieval of such land so that it could be allotted to new investors who are willing to set-up their units under new Industrial development scheme announced by the government.
In this regard, Principal Secretary, Industries and Commerce department, PrakashRanjan has ordered nomination of General Manager, Regional Office SIDCO Jammu, General Manager Regional Office SIDCO Kashmir as Estate Officers for eviction process with regard to cancellation of lease deed and eviction of the allottees in the industrial estates.
“… sanction is hereby accorded to the nomination of following officers as Estate Officers one each for Jammu/Kashmir divisions for eviction process with regard to cancellation of lease deed and eviction of the allottees in the Industrial Estates managed by J&K SIDCO,” reads an order issued.
The officers will work under the supervision of Managing Director SIDCO , the order mentions.
Earlier this year, the central government approved a new industrial development scheme for the Union Territory with a total outlay of Rs 28,400 crore.
The scheme will remain in force from the date of its notification till 2037. The government aims to take industrial development in Jammu and Kashmir to the block level.
Officials inform that the un-utilised land after eviction from existing lease holders will be allotted to unit holders under new Industrial policy. “ Government is having two pronged strategies: on one hand new industrial estates are being established while on the other hand unutilised land in prime industrial estates is also being retrieved.”
The scheme will encourage new investment, substantial expansion and also nurture the existing industries in the Union Territory. It will also provide employment to 4.5 lakh people besides leading to equitable, balanced and sustainable socio-economic development of the region.
The new scheme provides for capital investment incentive at the rate of 30 per cent in Zone-A and 50 per cent in Zone-B on investment made in plant and machinery (in manufacturing), or construction of building and other durable physical assets (in service sector).