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| Industrialists take up issues with CM | | | Early Times Report
Jammu, Mar 6- A delegation of Federation of Industries (FI), Jammu led by its chairman S. Tejwant Singh Reen today called on chief minister Omar Abdullah and discussed various burning issues confronting smooth working of the industrial units in Jammu and Kashmir. The delegation apprised the Chief Minister about the present gloomy industrial scenario of the state and sought his intervention for their early redressal.
The delegation apprised the CM that the state was able to attract a meager investment of Rs. 4000 crore only after the declaration of Central/ State industrial packages, but unfortunately, the central excise package was diluted midway which resulted into the package becoming unviable for the industries. Moreover, reduction in central excise duty from 16% to8% has further hit the industry because of further reduction of refund component of central excise duty. In this scenario, Pharma industry wherein the potential of employment generation of technically qualified person was maximum is the worst as in their case central excise duty was reduced from 16% to 4%. So because of this dilution of central excise package and reduction in central excise duty all the major industries are at the verge of closure.
The delegation demanded income tax exemption for five years under section 80 IB and refund of excise duty. The other issues raised were extension of central package of incentives to old industrial units as well, revision of state industrial policy in consultation with federations of industries Jammu/Kashmir, implementation of price/purchase preference clause of prevailing industrial policy in letter and spirit by the government departments and organizations.
Romesh Badyal, president, Birpur industrial association, Devender Verma, president, Kathua industrial association, Vinod Rishi, president, Samba industrial association, Rattandeep Singh Anand, president, Gun manufacturers association, Anil Gupata, Senior Vice president and Sh. Kuldeep Ohri, general secretary of association of small scale industries, Gangyal were part of the delegation.
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