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| Rather kicks off budget discussions | | |
Early Times Report
Srinagar, May 18: Now since the elections are over and the government is back to seat, the Finance Minister Abdul Rahim Rather has kicked off the pre-budget discussions.
The Finance Minister today had first meeting with the representatives of Federation Chamber of Industries, Kashmir (FCIK), Kashmir Traders and Manufacturers Federation, Kashmir Hoteliers Association and Kashmir Traders Association here today, Finance Minister Abdul Rahim Rather said that the present government is open for suggestions adding that holding of pre-budget discussions has been a fruitful exercise for past several years. He said Budget Session was deferred in view of the general elections and the subsequent enforcement of Model Code of Conduct, adding the government has now commenced the process for consulting all stakeholders.
In a meeting held here this morning, the FCIK President, Shakeel Qalander thanked the Finance Minister for extending invitation to the Chamber for holding discussions and knowing viewpoints of the Industry.
Economic Advisor to the Government, Jaleel Ahmed Khan, Commissioner/Secretary, Finance, Sudhanshu Pandey, Commissioner, Commercial Taxes, Kh. Bashir Ahmed and other senior officers were also present on the occasion.
Seeking cooperation of all sections, Rather said everybody is aware about the prevailing economic problems the State is confronted with and added that the day is not far when the State would come out from these crises and pick up pace of development in the State.
The Finance Minister, who gave a patient hearing to the presentation made by the Federation, said at the conclusion that the government would seriously examine all these suggestions and does its utmost to accommodate genuine viewpoints of the members of industry and trade during his pre-budget consultations.
In his address, Qalander dwelt at length about the problems faced by the industry in the State, particularly in the valley. He said power sector is a major hurdle in the way of development of industry in the State and added that the Chamber is advocating increase in generation of power multi-fold by involving the private sector. In this regard, he welcomed the recent announcement of the Chief Minister, Mr. Omar Abdullah and hoped that the decision would get the nod of Cabinet soon. “We suggest formulating strategies that should enable our State to own its power projects having capacity of generating 5,000 MW to start with which could give revenue of Rs. 15,000 crore to the State”, he added.
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