Kashmir’s industrial sector in dire straits: FCIK

‘Unemployment rate of 21% is alarming’
Kashmir’s industrial sector in dire straits: FCIK
Representational PicFile/ GK

Srinagar, Oct 15: Stating that Kashmir’s industrial sector is in dire straits, the Federation Chamber of Industries (FCIK) today said that the government has failed to support the existing industrial units.

As per the statement issued by the FCIK, an Executive Council meeting was held today in which all the members of the chamber strongly “condemned the government policies towards the industrial sector in J&K.”

In a statement Secretary General FCIK, OveesQadir Jamie said the EC members have expressed their anger and agony at the government’s approach towards the industrial sector.

“With a sudden change in the procurement policy, the finance department on the instructions of the central government has directed all departments to make their procurements through the GeM portal under an open competition. This has resulted in joblessness of the local units as almost all purchases by the departments for the past two years have been made from outside units.”

As per the statement, President FCIK, ShahidKamili informed the members “We have alarmed the government that 85 percent of industrial units will close operations by next March in case the present PM package of Rs 28,400 crore is not extended to present existing industry and marketing support is not provided.”

“We are taking up the matter to the government at various levels but it seems as of date they are having a negative approach towards the existing industry. If the government is not serious then they should do a golden handshake with unit holders rather than to sell dreams,” Kamili said.

Jamie said that the unemployment rate of 21 percent has touched highest in the country which is alarming and eye opening for the government. The expected new investments of Rs 21000 crores which the government has projected to come in the UT of J&K from outside has yet to come, but on the other hand the government is withdrawing support to the existing Industrial Sector which has been committed in the 2016-26 Industrial Policy.

The EC members also demanded the release of payments held with government departments, revival and rehabilitation of sick units, extension of provisional registration granted to unit holders and deferment of Power dues accrued to the Industrial Sector.

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