Revival package in tune with our demands, suggestions: PHDCCI

PHD Chamber of Commerce and Industry (PHDCCI) welcomed the business revival package announced by Lt Governor Manoj Sinha today.

In a statement, PHDCCI Kashmir Chairman Baldev Singh Raina and mentor Mushtaq Ahmad Chaya said: “The first phase of Rs 1350 cr business revival package unveiled by Lt Governor is in tune with the demands and suggestions made by PHDCCI-Kashmir and the measures announced would surely help kick start the economy which was severely impacted by the lockdown necessitated by the COVID 19 and abrogation of Article-370”.

“Beyond all reasonable doubts, the time bound decisions and announcements by the LG for the revival of the ailing economy of J&K, features a high priority for him. The chamber hopes that we will witness more such announcements and reforms over the next couple of months for the economic revival of J&K, Baldev said.

The Chamber thanked the LG and his team of experts including Advisor K K Sharma, the chief secretary and the financial commissioner for considering the specific suggestions put forth by PHD chamber.

The suggestions it had given included: “interest waiver, release of pending interest subvention,  customized help tourism scheme, buyer seller meets, single window clearance, establishment of warehouses, diagnostic study for existing industrial estates.”

Its suggestions also included: “online marketing of carpets, enhancement of loan slab for weavers, promotion of FPOs, ease in schools renewal and CBSE registration, reduction in GST in handicrafts.  

Baldev said that the LG has pushed for development and taken ownership of driving progress in the union territory of J&K. “His style is not authoritarian. He welcomes insights from domain experts and arrives at intelligent and logical solutions to the issues that confront the people of this region today,” he said.

The statement said: “The chamber believes that today’s announcements to certain extent will help the industry but we were also hoping that in coming days the government will announce some sector specific relief packages . . . so that the revival and survival of economy of J&K will be made possible.”