Expresses gratitude for extension of Industrial Package to JK
JAMMU, DEC 23: A delegation of Federation of Industries Jammu (FOIJ) led by its Chairman Lalit Mahajan met Governor Satya Pal Malik at Raj Bhavan here today.
The Governor interacting with the delegation observed that the package announced by the Union Government would go a long way in giving major boost to industrial sector in the State. The new incentives extended to the State under Industrial Development Package would further give a boost to investment in Jammu and Kashmir State especially in MSME sector, creating new job avenues for the local youth, revenue for the Government and a huge fillip to the State economy, he further observed.
The delegation expressed gratitude to Governor for the Grant of Central Package of Incentives to the Industrial Sector of J&K State and incentives extended in State budget under industrial sector. The delegation also discussed some issues of urgent nature with regards to industrial sector of the State which include fixation of Labour employment ratio, releasing of fiscal incentives to the industrial units, budgetary support to Micro and Small Scale Sector for Intra-State sale of goods, grant of VAT remission incentives to the existing Micro & Small Scale units for their survival to make competitive edge in the market, extension and notification of State Fiscal Incentives to new units and units under Substantial Expansion, removal of items from the negative list for industrial sector in respect of grant of State Fiscal Incentives, setting up of Central Public Undertaking/Big Corporate Houses in the manufacturing sector in the State and inclusion of industrial items being manufactured in the State for the Cross LOC Trade.
The Governor listened to the issues raised by the delegation and directed the Principal Secretary, Industries and Commerce to ensure time-bound action on the issues and suggestions made by the members of the delegation. He observed that every necessary action would be taken for the promotion and development of industrial sector in the State.
Shaleen Kabra, Principal Secretary Industries and Commerce; Vijay Aggarwal and Ajit Bawa Co-Chairmen; Ajay Langer, Convener, Suresh Mahajan, Senior Vice-President and Vinay Mahajan, Vice-President were also present in the meeting.