SRINAGAR: Apni Party President Syed Mohammad Altaf Bukhari on Thursday demanded that all the industrial unit holders of Jammu and Kashmir who have started their ventures since 2019 should be made eligible to avail benefits under the new industrial policy.
In a statement issued here, Bukhari expressed serious concern over the exclusion of industrial unit holders who have made their investments in manufacturing plants and machinery or have raised any immovable assets since April 1, 2019.
“The Clause 7.5 which underlines incentives related to Capital Investment, Capital Interest Subvention and GST linked benefits is totally unjust and discriminatory in nature. The government should modify this Clause and bring all the industrial unit holders since 2019 under its ambit in order to make this scheme a success,” he demanded.
Bukhari said Jammu and Kashmir has been witness to a turbulent period in 2019 coupled with an environment of pandemic and subsequent lockdown which brought the whole commercial activities to a standstill.
However, he said the New Central Sector Scheme for Industrial Development is a significant initiative for the revival of the industrial sector in Jammu and Kashmir but in the meantime, exclusion of 2019 born industrial units from the benefits of this scheme has given rise to the genuine feelings of discrimination and unwanted disparity.
“No separate yardsticks should be applied for effective implementation of this landmark central industrial developmental scheme which is aimed to revive the industrial sector in J&K. Regrettably the exclusion of Industrial Units set-up during 2019-20 is grossly in contradiction with the objectives laid down in the newly formulated industrial policy,” Bukhari lamented.
He said that such industrial units and small scale enterprises had to face the brunt of strict lockdown and a communication blockade in 2019 after the abrogation of Article-370.
“Then adding to their sufferings COVID-19 devastated the trade and manufacturing sector to the hilt. But now the industrial units big or small were hopeful that the new industrial package will help them to overcome their huge losses. Ironically, the dismal approach adopted by the policy makers have left no relief clause for a vast section of industrial unit holders whose only sin is that they had started their ventures in 2019-20,” Bukhari remarked.
He appealed to the Union Home Minister and Minister of Commerce and Industry to intervene into the matter taking into consideration the sufferings of local industrialists, entrepreneurs and small scale enterprise owners who have lost much to the chaos, turmoil and pandemic during the last two years in J&K.
“The eligibility for availing the incentives under the new industrial policy should be extended to all the industrial units in J&K with effect from April 1, 2019 irrespective of their date of commercial production/operation,” he demanded.