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| FOI delegation calls on Drabu; demand roll back | | ‘Withdrawal of Central excise exemption shakes faith of industrialists’ | | Early Times Reporter
Jammu | Apr 8
Expressing its serious concern over the recent Notification of the Union Finance Ministry withdrawing Central Excise exemptions from April 1 this year, the Federations of Industries, (FOI) Jammu has demanded its immediate roll back as it was detrimental to the interests of the industrial fraternity in Jammu and Kashmir.
‘The industrial sector in the state has been back stabbed by this Notification’, the Association alleged and strongly pleaded for its immediate withdrawal.
A deputation of Federation of Industries, Jammu called on Dr Haseeb Drabu, Economic Advisor Jammu and Kashmir here today and apprised him that the notification in question would lead to the closure of industry, retrenchment of labour force and bring imbalance in the socio-economic conditions of the state which is limping back to normalcy from the clutches of militancy. The deputation further said that it would be betrayal of faith to the investing community to create infrastructure and industrial atmosphere in the backward areas adding that the industrialists are worried about their existing investments and those which are underway.
The delegation apprised Dr Drabu that the industrial fraternity of Jammu and Kashmir strongly disagrees to this change of police which shakes the confidence of the people as well as industry and urged upon him to intervene in the matter and get the notification withdrawn by the Union Finance Ministry at the earliest.
The Federation in a handout claimed that the Economic Advisor assured the delegation that he would apprise the Chief Minister about the adverse impact of virtual withdrawal of the Central Excise exemption to the Jammu and Kashmir industry and request him to take up the matter immediately with the Prime Minister, Dr Manmohan Singh.
The deputation comprised Anil Suri, Chairman, Rajesh Jain and Ramesh Badyal Co-Chairmen, Tejwant Singh Reen secretary general, Anil Gupta, senior vice president, Association of Small Scale Industries Gangyal, Sanjay Mehra Vice president Bari Brahmana Industrial Association and Rakesh Bhat chief coordinator Federation of Industries, Jammu. |
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