Business in distress, financial package yet to be implemented fully: KCCI

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Stating that the business community is in stress, Kashmir Chamber of Commerce & Industry (KCCI) today urged the government to immediately implement all the announcements made under Financial Package.

In a statement BCCI said, that the Financial Package announced by the Lt. Governor, was a ray of  hope for the  Business Community, "But at the same time most of the announcements in the package are still awaited."

The Spokesperson of BCCI stated that "the Committee has recommended an interest subvention of 5% for six months amounting to Rs. 1089.24 Crore, partial waiver of fixed electricity charges for one year amounting to Rs. 80 crore, waiver of water charges for six months costing Rs. 25 crore , time bound  One Time Settlement (OTS) , capital infusion in accordance with the AtmaNirbhar Bharat Abhiyan, replacement of old vehicles and insurances support costing Rs. 50 Crore to the transporters support to artist and others costing Rs. 108.75 crore which  are partially  implemented and needs immediate  attention from the J&K Government."

The statement further said that the "removal of Lakhanpur Toll post has hit the business very badly and a committee   was formed to ascertain its effects on the industries but the report has not still come out."

"It is a well-known fact that our Export performance over 05 years have deteriorated to the worst level. To encourage exports from J&K we need to support at all levels in manufacturing, artisans and weavers. In our recently meeting held with Lt. Governor  was kind enough to ensure KCC&I delegation  that  Government constitute a Export Promotion Board   for all Export level issues but  till date  no Board was  constituted."

The spokesperson said "in  the Financial Package subsidy for  installation of the bio-digesters in the Houseboat, pending payments to the  hotels utilized for quarantine facility, issues related to  permission for  renovation of Hotels / Houseboats with the  Committee of experts on LAWDA, simplification of  process for renewal of licenses of the  Houseboats, extension  of   Tourism  incentives scheme for next 15  years for Travel Agents and Tour Operators,  Power Tariff at par  with Industries are  still pending with the  concerned authorities."

Citing non-working of 4G internet services and the situation, the BCCI requested authorities that the transport sector must be waived off from paying passenger tax, Token tax, Fitness charges and permit fees for the last seventeen months besides complete compensation of insurance for the last one year.

The Kashmir Chamber of Commerce and Industry urge the Lt. Governor  to intervene so that these problems gets redressed as soon as possible.

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