Governor Satya Pal Malik on Sunday said the new incentives under revised industrial development scheme (IDS) to Jammu and Kashmir on the pattern of Northeast states would boost investment and create employment opportunities for the local youth in the state.
"The new incentives extended to the state under industrial development package would further give a boost to investment in Jammu and Kashmir State especially in MSME sector, creating new job avenues for the local youth, revenue for the government and a huge fillip to the state economy," the governor said, according to an official spokesperson.
Governor said this while interacting with delegations of Federation of Industries Jammu (FOIJ) led by its chairman Lalit Mahajan and Kashmir Chamber of Commerce and Industries (KCCI) led by its president Sheikh Ashiq Ahmad separately.
The governor while interacting with the business delegation also observed that the package announced by the Union government would go a long way in giving major boost to industrial sector in the state.
In their separate interactions with the governor in which principal secretary industries and commerce Shaleen Kabra was also present, both KCCI and FOIJ thanked Satya Pal Malik and his administration for their efforts and convincing central government for extended the Rs 500-cr package to Jammu and Kashmir for the five years.
According to a statement issued separately by the KCCI, Sheikh Ashiq Ahmad apprised the governor about the need for the consequential measures required for local entrepreneurs to benefit from the package. "
"Attention was drawn towards issues like non-availability of land, delays in essential permissions like pollution clearance and power sanction, logistic issues and other operational problems faced by the industrial sector," read the KCCI statement.
Ahmad, according the statement, also urged for exercising of restraint by the security forces while dealing with unarmed civilians as the repetitive loss of lives was a serious cause of concern. The Kashmir Chamber urged for the need of giving space for peaceful protests, it said.
The BOIJ delegation also discussed some issues of urgent nature with regards to industrial sector of the state which include fixation of labour employment ratio, releasing of fiscal incentives to the industrial units, budgetary support to Micro and Small Scale Sector and many other issues.
The governor listened to the issues raised by the delegations and directed the principal secretary to ensure time-bound action on the issues and suggestions.