Srinagar, Dec 25: The Kashmir Small Scale Industrial Association (KSSIA) has urged the government to form a high-level committee (HLC) to identify, acknowledge, and mitigate the serious issues facing current industrial companies in the hopes of getting them back on track to contribute to economic growth and job creation.
According to the statement, in a day-long meeting of the general members of the valley’s oldest association KSSIA presided over by its President Syed Fazal Illahi, the members highlighted many chronic problems which come way to smooth operations of the existing units. The issues were raised in presence of former presidents of FCIK who presently carry out their responsibilities in the Advisory Council.
The members pointed out that the lower product market demand had drastically affected and reduced the productivity of units to an all-time low more so because of the withdrawal of the policy of purchase and price preference afforded to the local units by government departments.
The members expressed anguish that huge money on account of the supply of goods was held up with departments for months and years on one or the other pretext.
The members expressed apprehensions that the One Time Settlement Scheme launched by J&K Bank for NPAs between Rs 15 lakh and Rs 10 crore was unlikely to yield desired results unless and until it was backed and supported by a workable policy of the government for rehabilitation of sick industrial units.
“Whereas the scheme launched by the bank should have been non-discriminatory with its applicability on all NPAsin the Union Territories of J&K and Ladakh irrespective of the amount, the period for liquidation of settled amount has to be feasible and practicable” observed the members.
According to the statement, while pinpointing the deficiencies in the industrial policy and confusion created by its guidelines and other circulars, the members also expressed their dissatisfaction over the pace and quality of the developmental works being executed by SICOP in the industrial estate.
Speaking on the occasion, President KSSIA endorsed the problems highlighted by members and urged the representatives of FCIK to take these up with appropriate authorities for their resolution. He conveyed gratitude to the team-FCIK for having resolved power-related issues in the estates and said that members had increased hopes with them to address their other issues.
He said that KSSIA, as a constituent of FCIK, will extend its full support and cooperation to the organisation in its ensuing elections to install a vibrant team at the helm of the organisation.
Former Presidents of FCIK Mehraj ud Din Qureshi, Syed Shakeel Qalander, Zahoor Ahmad Bhat and Muhammad Ashraf Mir assured the meeting of putting in the best efforts from the platform of the apex organisation for mitigation of issues and problems of existing units.