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| CCI seeks lasting, permanent solution of K-problem | | | Early Times Report
JAMMU, Sept 21: Jammu Chamber of Commerce and Industry (JCCI) today requested all party delegation to suggest some lasting and permanent solution to Kashmir problem and save the state from bloodshed and economic disaster.
This was stated by members of Chamber of Commerce and Industry in a memorandum submitted to all party delegation here today. They said that trade and Industry can flourish only in an atmosphere of political stability, cooperative governmental intervention and dedicated entrepreneurship. Chamber said that Jammu and Kashmir is a testing ground for secularism while adding that chamber is against any attempt to convert J&K into a hot bed of International intrigues.
They said that they expect government to act with authority and not to give in before the unreasonable demands of some vested interests that have been given a very long rope to vitiate atmosphere of brotherhood and harmony. Chamber said that people in all the three regions of the state – Jammu, Kashmir and Ladakh should get their due share of central grants and the government should ensure that no region is discriminated.
Regarding the state government, Chamber said that it is a democratically elected government and is trying to deal with the situation with utmost restraint, courage and determination. They said that it needs help and support of the central government to defeat the nefarious designs of the trouble makers trying to disrupt democratic institutions.
On the economic front, Chamber said that in every such turmoil, Jammu is an equal sufferer. They added that industrial units which manufacture goods meant to be supplied to the government departments or for consumption in the valley suffer huge losses. They said that traders, whose stocks / payments are held up due to frequent strikes, curfews and bandh calls fail to pay installment of bank loans and their dues to Income tax, Sales tax and other departments.
Chamber maintained that many new units which started production from May 2010 with an investment of crores of Rupees with the financial support of banks and other financial institutions have incurred huge losses due to present turmoil and the units are at the verge of closure. It said that local industry is in shambles since 70 percent of locally manufactured goods are supplied to the Kashmir Valley and Ladakh region.
Chamber sought review of concessions granted and their implementation. They said that central excise package was given to the state but later on it was withdrawn while adding that the same should be restored because many industrial units were closed due to its withdrawal creating huge unemployment and discontentment amongst the industrialists, as huge investments have been put into doldrums.
Chamber sought extension of north-eastern Package to Jammu and Kashmir. The exemptions given to the state in excise duty and other subsidies and incentives have been taxed by the Income Tax Department which defeat the very purpose of subsidies and incentives, added the chamber.
Chamber asserted that due to disturbed conditions, bank accounts become nonfunctional which in turn become NPA accounts. It said that period of 90 days should be extended to at least 180 days for declaring any bank account as NPA while adding that bank interest on term loan should be waived off for this period of turmoil. Term loan installments should be rescheduled and soft loans should be provided to overcome the financial crunch.
The last date of company law settlement scheme 2010 (CLSS) which expired on 31st August should be extended to the state till the peace is restored. They said that they have been requesting central government to set up some public sector units at Jammu to address the unemployment problem. Chamber said that expert group constituted by Prime Minister about employability of the youth in the state, has a member of Industry from Kashmir but no one from Jammu has been included.
The issue of Central University in Jammu has been hanging and no action has been taken in this regard. It should be immediately established and a Vice Chancellor appointed, without any further delay. Whereas details on all these counts can be worked out, Chamber said that members of the committee should specially emphasize on the economic, political needs and aspirations of Jammu region, these should not be sacrificed as Jammu being the gateway both to Kashmir and Ladakh, its needs should be addressed on priority basis.
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