| MSS industrial sector on verge of closure, says FOIJ | | | Early Times Report
JAMMU, Feb 22: Federation of Industries Jammu (FOIJ) has alleged that the tiny, micro and small scale industries in state are on the verge of collapse.
According to press release, a meeting of FOIJ was held under the chairmanship of Rattan Dogra, entrepreneurs unanimously expressed their dismay and resentment over the delaying tactics now adopted by the State Government to deny publicly assured fiscal incentives to restore the competitive edge of almost all the micro/small industries largely promoted by local sons of the soil entrepreneurs that existed under the VAT regime.
Federation takes this opportunity to bring to the notice of general public of the State that contrary to the myth floated by various Govt. functionaries and agencies No new fiscal incentives have been provided under the GST regime neither the State Govt. intends to provide in near future as contained in Notifications SRO 519 and SRO 63.
The entire working capital resources of the local micro/small entrepreneurs have been exhausted in meeting various obligations under GST regime and majority of these units are on the verge of closure, some of which unable to mobilize additional financial resources have already closed down.
Federation further thinks it appropriate to brings to the knowledge of the general masses that State Govt. adopted all means to convince industrial sector to welcome adoption and smooth transaction to GST regime and Chief Minister, Deputy CM, Finance Minister, Minister for Industries & Commerce publicly assured that local industries shall continue to be provided equivalent fiscal incentives which are imperative for their existence and survival. In various deliberations, the Finance Minister was categorically enough to exceed the current amount of Rs. 1700 crores for fiscal incentives for micro/small industrial units. J&K being a consumer state, Govt. was bound to mobilize additional resources under GST regime.
The prominent members attending the meeting included Co-chairman of FOIJ Lalit Mahajan, Jatinder Aul, Deepak Dhawan, Vijay Aggarwal, Ajit Bawa, Rajinder Gupta, Ajay Langer (Secretary General), Pardeep Vaid (Convener) and Members of the Federation - Bansi Lal Gupta, Suresh Mahajan, Sandeep Mittal, Ashok Jain, Ankur Jain, Parveen Jain, Sanjay Chopra, Sandeep Ohri, Vivek Singhal, Jatin Sachdev, Viraaj Malhotra, Sdr. Lavinder Singh Puri, Sharad Malhotra. |
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