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| Reintroduction of incentives may push up industrial growth in JK | | | EARLY TIMES REPORT
Jammu, Jan 1:-The state Government expects good response from the new entrepreneurs and from the industrial houses in rest of the country to the package of incentives the centre has reintroduced for Jammu and Kashmir. It expects a number of industrialists and new entrepreneurs to set up new units in the state.
Official sources said that the incentives had been withdrawn which had retarded new industrial growth in the state. The state Government had mounted pressure on the central Government for reintroducing packages and incentives so that industrial houses were attracted to Jammu and Kashmir.
In the meantime the state Government has introduced a new scheme for encouraging unemployed youth to set up mini and micro units in the state. Under the scheme each unemployed youth was being paid Rs three lakhs after he or she gives in writing that he or she will not seek any Government job. Those who have been enlisted under the scheme will also be entitled to receive loan from Jammu and Kashmir Bank on a nominal interest which could be utilized for building the mini units.
So far several hundred unemployed youths have been covered under the scheme. The only worry for the Government is whether those covered under the scheme utilize the financial help from the Government for setting up mini units or gobble the funds as many had done in case of incentives given in the industrial sector.
Meanwhile, young industrialists have suggested to the Government to reform the practices and procedures connected with the grant of licenses, loans and clearance from various departments, especially from the pollution control Board so that the industrial entrepreneurs did not feel frustrated with the delays and change their plan of setting up units in Jammu and Kashmir.
These unit holders have conveyed to the Government that there was need for providing a market cover for the goods their units produced or manufactures because in the absence of a guaranteed market cover it had become difficult for them to seel their products. The result was in sever al units the products continued to pile up causing heavy losses to the owners.(KIP)
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