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Apathetic attitude destroying local Micro, Small Industrial sector: AOI
12/18/2018 9:36:05 PM
Early Times Report
JAMMU, Dec 18: Annual General Meeting (AGM) of Association of Industries (regd.), Gangyal, Jammu was held under the chairmanship of Rattan Dogra, President,AOI-Gangyal and said that apathetic attitude is destroying local Micro and Small Industrial sector in the state.
The AGM meeting was attended by all office bearers, Bansi Lal Gupta - Senior Vice President, Ashok Jain - Vice President, Pardeep Vaid - General Secretary, Sandeep Ohri - Secretary and Lavinder Puri - Treasurer including a large number of members of the Association.
AOI members shown their anguish and deep resentment for the current grim situation being faced by local MSME sector arisen out of the non serious and unsympathetic attitude of the State Government which fails to acknowledge its due significant role as the single largest sector providing employment opportunities besides State Government.
Entrepreneurs were vehemently stressing that all their vital pending issues related to fiscal incentives have remained largely unattended despite one and half years of shifting to GST regime. The previous regime utterly backed out of all their promises and public assurances towards the continuity of all fiscal incentives available to local Small and Micro units. This is pertinent to once again stress local MSME sector was protected through various fiscal incentives both from Central and State Government which only provided level playing field to offset the higher input cost and higher cost of production.
This merely enabled local Small and Micro sector to survive and in absence of adequate fiscal incentives most of the local industrial units are on the verge of closure as these units have almost consumed their working capital resources as diverted to meet the tax obligation under GST regime. This has already started in resulting in turning their accounts as NPAs with most of the Banks which is ultimately going to reflect in mass retrenchment of the already employed in these local units.
Entrepreneurs were confident that all their unattended/unresolved issues shall be suitably addressed in the Hon'ble Governor's regime as the previous regime shown its bias not to listen to the woes and grievances of the local Small and Micro sector and deliberately avoided to address suitably resolve. AOI acknowledges that due to political compulsions Government was in hurry to approve next year's budget which has no apparent assurance to restore their competitive edge through Budgetary support.
AOI appealed to the Governor and Advisor to Governor to personally intervene in the matter immediately to take remedial measures to save this vital employment provider sector from total disaster as the local entrepreneurs have reached a stage where they are left with no alternative but to permanently down their shutters and come on roads to hand over the keys of their enterprises to the administration.
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