J&K Govt’s business revival committee meets delegations, deputations in Kashmir



Exploring ways for reviving economy in J&K: Advisor Sharma

BK News

Srinagar, Aug 28: The Committee constituted for coming up with proposals for the revival of Business Sector in Jammu and Kashmir today met delegations and deputations of the business, industries and commerce fraternity of Kashmir Division here today at Sales tax complex under the Chairmanship of Advisor to Lt. Governor K.K Sharma.

It was also attended by its members including Financial Commissioner Finance, Arun Mehta, Commissioner Secretary, Tourism, Zubair Ahmed,   Chairman Jammu Kashmir Bank, R.K Chibber, Special Secretary, Finance, Shamim Wani, Director Industries and Commerce Kashmir, Mehmood Ahmed and other senior officers.

The Advisor while interacting with the deputations said that the Government by constituting the Committee is exploring the ways and means of reviving the business and related activities in Jammu and  Kashmir which has undergone a low ebb and has been badly hit like in other parts of the country due to the Covid-19 pandemic. He said that the suggestions would be formulated and sent to the concerned for undertaking the necessary interventions for the revival of business in Jammu and Kashmir.

The deputations who called on the Committee included Kashmir Traders and Manufacturers Federation, Kashmir Chamber of Commerce and Industries, Kashmir Transporters Welfare Association, Kashmir Traders and Manufacturers Federation and Kashmir Economic Alliance, Federation Chamber of Industries Kashmir, Kashmir Hotel and Restaurant Association and Federation, Kashmir Economic Forum, Kashmir Youth Entrepreneurs Federation, Travel Agents Association,  House Boat Association, Kashmir Industrial Revival and Development Forum, PHD Chamber, JK Economic Confederation, Khonmoh Industrial Association and Television Professionals United Forum.

The meeting also decided to hold awareness camps across the districts of UT in order to create awareness about the Atam Nirbar Bharat Scheme which has a special focus on rejuvenating the economic profile and activities besides providing the necessary infusions. Finance, industries department and Jammu and Kashmir Bank would be coordinating the camps across Jammu and Kashmir so that the entrepreneurs are provided with ample knowledge about the Scheme and interventions of the Central Government.

While responding to the demands of the deputations regarding GST reimbursement, the Committee assured that it will be automated for the benefit of the industrial units so that timely settlement of the claims is ensured.

The Industrial Associations and Federations raised several demands related to ease of doing business, GST Reimbursement, Power Tariffs, Waiver of loans and interest, GEM issues and also the issues of handicrafts and artisans associated with them.

Young entrepreneurs also raised the demands of a separate desk for them in JK bank for speedy single-window clearance of their cases. They also demanded women entrepreneur ordinated schemes be also taken care of while formulating plans for business revival in the UT.

Hotel association raised the issue of designating hotel business as an industrial sector so that the benefits extended to the industrial sector is also given to them, waving off the electric bills and other issues.

Transport associations raised the issue of compensation to public transporters, renewal of validity of old insurance policies of all types of commercial vehicles, waiving off late fee/ penalty on account of documentation, Rollback of the token tax hike, Special economic package and budgetary support for replacement of old/medium buses and other related issues.

Houseboat Owners Association raised the issue of financial support, waiver of electricity charges, rehabilitation of houseboat owners against surrender of registration certificates.

The Committee while holding detailed deliberations with the business and industrial associations of Kashmir assured them that the suggestions put forth would be taken into consideration while formulating a comprehensive program for revival of business in the UT.

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