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| Govt disburses soft loan for reviving 66 sick units in J&K | | | Early Times Report
Jammu, Jan17
To revive the sick industrial units, the government has sanctioned soft loans in order to help resume production. The government created two special rehabilitation task forces for revival of sick units.
A sum of Rs.860.44 lakhs for providing soft loans to the owners of sick units were sanctioned on the basis of the recommendations of the rehabilitation task force.
Under this scheme, the govenment had received a large number of applications from industrialists seeking financial assistance for securing revival of their sick units.
According to official sources, so far 66 cases were examined, out of which 59 cases belonged to the Kashmir valley and the remaining seven to the Jammu region.
Out of the sanctioned amount of Rs.860.44 lakhs, the government has disbursed Rs.349 lakhs to these sick units at the interest rate of one per cent. As per the new guidelines the government wants to lay emphasis on the revival of sick units which was as important as setting up of new units. In addition to this government has decided to reactivate those industrial estates which are lying closed by upgrading their dilapidated infrastructure.
To further boost the industrial sector in the state, government has started exploring the possibility to identify 20,000 kanals of waste land for creation of land bank for new industrial units, especially in the backward areas of the state.
Another plan was to earmark another big chunk of land for creating special industrial zone. Official sources said that government was worried on two counts. First no major new unit was being built in the state and secondly the rate of industrial sickness had begun increasing following withdrawal of certain packages and incentives by the central government.
The sources explained that old unit holders had been attracted by the central government incentives and accordingly had gone in for expansion.
Under rules those industrialists who went for 25 per cent expansion were entitled to the central incentives. By the time their expansion programme had been completed the central government withdrew its incentives forcing the already established industrialists in the state to witness sickness in their expanded units.
The sources said that following failure of the state government to streamline various rules and regulations it had failed to woo back eight industrialists who had abandoned their plan of setting up units in Jammu after they were harrased by the concerned agencies including the Pollution Control Board.
According to these sources, only one major cement unit was in the pipeline.
The project was likely to be cleared by the apex clearance team and the cement plant is to come on a 300-kanal piece of land in Kathua.
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