FCIK urges the government to help local industry

The Federation Chamber of Industries Kashmir (FCIK) has urged upon the government to look inwards for saving the local industry from extinction ‘before wooing the investors from outside to venture into the sector.’

According to a statement, “in its 2nd Executive Council meeting of the current term the FCIK members  expressed their shock and anguish over the dilapidated status of local industry for the reasons of unfavourable conditions, bureaucratic callousness and breach of trust and confidence. They regretted that while the entire government looked busy in paving the way for accommodating invisible investors from outside in the sector, they completely ignore that the investment of thousands of crores locked up in local enterprises was in distress and only a few steps away from extinction.”

The members observed that as a result of change in the current procurement policy, the departments have procured industrial goods worth hundreds of crores from the outside enterprises leaving the locals jobless.

The FCIK members also conveyed their concern over the unprecedented delay in release of due payments by various departments in favour of supplying units. “They said that despite assurances these payments continued to be withheld for month’s even years causing tremendous losses to the enterprises,” the statement reads.

The President FCIK Shahid Kamili while acknowledging that the change in the marketing policy had drastically shattered the prospects of local industry besides their faith and confidence in government commitments and policies, he hoped that steps were taken to respect the provisions of marketing support to the local industry in its letter and spirit.