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| Industrialists threatens closing down units | | | Early Times Reporter
Jammu | June 24
Saying that industry in Jammu and Kashmir was passing through a rough patch, the Federation of Industries in an emergent meeting held under the chairmanship of Annil Suri at Bari Brahmana, has warned that if the burning issues were not taken care of, the government shall have to face grave consequences by accepting a long queue of sick and closed units in the state, turning industrial estates into grave yards.
The meeting was attended by the presidents and representatives of all the associations across the state including Rajesh Jain, Romesh Badyal, Rakesh Bhat, T. S. Reen, Davinder Verma, Anil Gupta, Sudershan Sharma, Sanjay Mehra, Deepak Dhavan, Sidharth Dogra, Sandeep Ohri and Irfan Naquib.
Expressing serious concern over diluting the central industrial policy in mid way, the Federation said that the industrialists, who had invested in the State, have been back stabbed. The recent notification issued by the Union Ministry of Finance has shattered the confidence of the industrialist, the meeting observed.
The meeting further said that a sigh of relief was noticed when the Union Finance Ministry on June 10 last issued a fresh notification on excise duty wherein relief has been given but regretted that the relief was given only to the Cement Industry and an individual unit whereas the majority of the industries in Jammu region have been left out. This has caused lot of unrest among the entrepreneurs and more than 150 units are on the verge of closure. Already large number of industries, pertaining to non ferrous metals, menthol, mosquito coils, resins and turpentine, has become non operational adversely affecting ancillary units and service sectors mostly set up by the sons of the soil. FOI feels that if immediate remedial measures were not taken by the Government it will undo the industrial development of the State and will lead to large scale retrenchment of labour force. |
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