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| Unrest: Govt writes to PMO | | Incentive withdrawal notification comes into effect today | | Early Times Reporter
Jammu | Mar 31
Rising to the occasion following unrest among the industrialists, the state government has written to the Prime Minister seeking his intervention in the situation arising out of withdrawal of excise incentives.
The Minister for Industries Nawang Rigzin Jora who returned to the winter capital after his Ladakh tour confirmed that a request has been made to the Prime Minister’s Office for intervention in the matter. This step was taken after large scale unrest prevailed among the industrialists following a notification issued by the central government withdrawing the excise incentives.
The central government through a notification number 19/2008 central excise dated 27th March 2008 had called for withdrawal of the excise incentives and the notification is coming into effect by April 1.
The industrialists have raised this issue vocally and termed it as moratorium for the recently growing industrial culture in the state which has the potential of resulting into large scale unemployment of the workers who have been engaged by the units established in the state under the central package of incentives.
The virtual withdrawal of excise exemption by the central government will also stop the new investment and establishment of new units throughout the state. Because of this anomaly most of the units in the state shall become unviable and uncompetitive and those entrepreneurs shall be compelled to close dwon their ventures for which huge amount of capital investment has been spent and this will also amount to the loss to the financial intuitions who have advanced huge loans to these industrial units.
The industrialists say that the total central package was provided with a aim to create industrial atmosphere in the backward states for economic growth and employment generation and withdrawal of excise exemption is likely reserve the entire process thus defeating the scared motive of providing the total central package.
The midway withdrawal of any incentives paid through a responsible government amounts to the betrayal of trust and credibility of the government. |
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