Srinagar, March 17: As Kashmir’s economy has been badly hit since August 5, J&K administration has directed departments to purchase locally produced goods to boost the local economy.
An official said that Lieutenant General Girish Chandra Murmu wants to boost the economic activities of small entrepreneurs.
“Kashmir’s economy has been badly hit since August 5. Units of several small entrepreneurs are at the verge of closure because they are not able to do their business in view of prevailing situation,” the official told Kashmir Indepth News Service (KINS).
Taking note, J&K administration has directed its departments, public sector undertakings and other aided institutions to procure certain goods and services produced and provided by micro and small enterprises (MSMEs).
Among the 358 goods included in the last are handloom, handicrafts items, automobile head lights, bags, buckets, sandals, chapels, domestic electric appliances, garments, glass wares, hand pumps, lubricators, sanitary fittings, tiles, tyres, utensils, jute furniture, woolen, carpet and silk items.
Sources said the step has been taken in line with the public procurement policy notified by Ministry of Micro, Small and Medium Enterprises in respect of goods and services produced and provided by micro and small enterprises. The policy envisages procurement of minimum 20% of overall procurement of goods and services by government institutions from these small time entrepreneurs.
“The move is aimed at providing much relief to these enterprises as 20% of government purchases would infuse a greater vigour into the economic advancement of these enterprises,” a top official said.