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| PHD Chamber appreciates extension of Excise package | | |
EARLY TIMES REPORT
JAMMU, Feb 12
PHD Chamber has welcomed the decision of union government to extend Central Excise package to the state.
According to a press statement, Ashok Kajaria, President, PHD Chamber extended gratitude to Prime Minister Manmohan Singh and Union Minister for Finance Pranab Mukherjee, for their support.
He also lauded the sustained efforts of Chief Minister Omar Abdullah in pursuing the matter with the central government.
Kajaria also thanked Minister for Finance AR Rather and Minister for Industries and Commerce Surjit Singh Slathia for their concerted efforts in getting the package.
The fresh notification, besides, extending existing refund on Value Addition for ten more years, also provides exemption of requirement of Khasra Numbers for establishment of any Industrial unit in the state, for it being a neutral location. The existing units would also be covered under the fresh exemptions. The existing units can take substantial expansion or diversification with 25 per cent increase in capital investment on plant and machinery or increase in regular employment by the same percentage.
President PHD Chamber said that the state is endowed with the required skills and resource base, offering immense business opportunities in hydro-power generation, handloom and handicrafts exports, promotion of gems and jewellery industry and development of the tourism potential.
We hope that this package would give the necessary boost to the industry in the state which will usher an era of peace and prosperity in the state, added Kajaria.
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