Tendering bias
In Kashmir, even the right to submit a tender for government procurement needs an intervention from Chief Minister’s office. R S Gull reports.
The statement that manufacturing sector in Kashmir suffers because of the attitude of the state government for long has remained just an allegation. Rarely has anyone been able to prove it right.
This month, however, the naysayers were vindicated when Chief Minister Omar Abdullah had to personally intervene to allow Khyber Cements, a local cement manufacturing major, submit a tender application. The entrepreneur had been denied the right to apply on ‘flimsy’ grounds by a state government department that makes purchases for hundreds of crores every year.
“We have a huge market in the private sector but that does not mean we can not supply our cement to the state government if and when there is an opportunity,” Umer Khursheed Trambu of Khyber Cements told Kashmir Life. “It was a crude shock that a state government department was seeking tenders from outside manufacturers when better quality cement is produced within the state.”
“Profitability High on Lending Operations in Jammu and Kashmir”
State’s only listed company, the J&K Bank declared a profit of Rs 409.84 crores for 2008-09. This is the highest ever profit that the...
Cost of protest
Strikes have been the most common feature of separatist struggle since 1989. Hamidullah Dar reports the price that people and institutions pay for paralyzing...
Women: Shrinking role
Findings of two censuses, 1981 and 2001, show how women in Kashmir are being limited to home primarily by the thick presence of troops. Hamidullah Dar reports.
Permanent deployment of forces for counter insurgency is not only about occupation of space – agriculture lands, public utilities and orchards, it essentially leads to greater contact with the civilian population resulting in friction that slowly and steadily takes its toll one way or the other. The hitherto unreported impact of this condition is reflected by rise in the number of female non-workers in Kashmir.
By working alongside men in fields and orchards, women have traditionally remained viably active in economic pursuits in Kashmir’s social set up. Besides managing almost half of the burden of activities in agriculture and horticulture sectors, women would collect fire-wood, medicinal plants and other produce from forests to add to the meagre resources at home. But all these activities now stand curtailed due to many factors, chief among them being the thick presence of forces.
Vege-trouble
Vegetable belts of Budgam produce 1,20,000 metric tonnes of vegetables out of which 54,000 metric tonnes are exported. But a host of reasons are...
Revenue generation: Trade suggests how
As Finance Minister Abdul Rahim Rather prepares to draft the budget 2009, he has been interacting with trade and industry chieftains for inputs. Kashmir...
What I want in budget
Sanjay Puri
A joint study by CII with Luthra & Luthra Charted Accountants concluded that Entry Tax impacts the competitiveness of the industry without any corresponding significant benefit to the states’ revenue. It found the tax restricts free flow of trade, mars potential employment generation, increases administrative costs for the industry, and leads to double taxation thus making products expensive for end user.
Perhaps that is why Tamil Nadu and Karnataka had done away with it. In northern region, UP levies entry tax between 1 to 5 percent, Punjab between 2 to 4 percent, Haryana between 2 to 12 percent and J&K levies tax between 4 to 12 percent.
J&K imposes double tax on manufacturing sector - toll tax first on inbound goods and again on outbound goods. One way toll tax will enable the manufacturers to expand their businesses with the neighboring states, thus increasing the quantum of inward goods and leading to higher collection of toll tax. We want this to be reviewed.
A biscuit for health
As entrepreneurship in Kashmir takes roots, a businessmen is in the process of manufacturing biscuits from water chestnuts. Haroon Mirani reports.
A Srinagar based company...
End discrimination to Valley based units
Muhammad Altaf
There are some eighteen registered SSI units manufacturing steel tubular poles in Kashmir Valley. An equal number of such units manufacture steel tubular poles in Jammu. The main purchaser for these poles is the Power Development Department (PDD). The purchase is made through Chief Engineer Procurement & Material Management Jammu which is helped by two purchase circles one headquartered at Jammu and the other at Srinagar. The purchase circle at Srinagar has very little participation and involvement in procuring materials for valley based consuming/utilizing divisions.
There are some eighteen registered SSI units manufacturing steel tubular poles in Kashmir Valley. An equal number of such units manufacture steel tubular poles in Jammu. The main purchaser for these poles is the Power Development Department (PDD). The purchase is made through Chief Engineer Procurement & Material Management Jammu which is helped by two purchase circles one headquartered at Jammu and the other at Srinagar. The purchase circle at Srinagar has very little participation and involvement in procuring materials for valley based consuming/utilizing divisions.
From paper to glass
CDI is introducing glass painting among Papier Machie artists. Haroon Mirani reports.
Aiming to diversify the skill of Papeir Machie artists in Kashmir. Glass painting is...
Global meltdown and Islamic financial systems
Zamir Ahmed
Now that the dust of the fallen financial empires has settled, the reasons behind this cataclysm have become common knowledge: inadequate discipline in the financial system resulting from the absence of profit and loss sharing (PLS); the mind-boggling expansion in the size of derivatives, particularly Credit Default Swaps (CDS); and the belief of the banks that central banks will come to their rescue.
Excessive and irrational usage of derivatives was the prime cause of this multi-faceted crisis. Derivatives are financial instruments that allow the transfer of risk about the value of the underlying asset from one party to another. George Soros—of the South Asian Crisis fame—calls them Hydrogen Bombs while as Warren Buffet, the famous investor and businessman, has named them financial ‘Weapons of Mass Destruction’.
Now that the dust of the fallen financial empires has settled, the reasons behind this cataclysm have become common knowledge: inadequate discipline in the financial system resulting from the absence of profit and loss sharing (PLS); the mind-boggling expansion in the size of derivatives, particularly Credit Default Swaps (CDS); and the belief of the banks that central banks will come to their rescue.
Excessive and irrational usage of derivatives was the prime cause of this multi-faceted crisis. Derivatives are financial instruments that allow the transfer of risk about the value of the underlying asset from one party to another. George Soros—of the South Asian Crisis fame—calls them Hydrogen Bombs while as Warren Buffet, the famous investor and businessman, has named them financial ‘Weapons of Mass Destruction’.
Rather Readies For Budget
With the parliamentary polls over, J&K government has started resuming normal activity. On top of the agenda is the state budget that government is planning to present formally for seven months of the fiscal 2009-10.
To begin with, sources said, finance minister Abdul Rahim Rather will have detailed interactions with trade leaders, industry chieftains and individuals with know how of the subject. “The government has some hard ideas in mind and they would be laid on the table as part of the budget,” a source informed.
To begin with, sources said, finance minister Abdul Rahim Rather will have detailed interactions with trade leaders, industry chieftains and individuals with know how of the subject. “The government has some hard ideas in mind and they would be laid on the table as part of the budget,” a source informed.
‘Pathogen’ Solution to Garlic Scare
An otherwise antibiotic and antioxidant, Garlic coming through the trans-LoC trade has become a headache for the government of India. R S Gull reports...
A growing car avan
Car manufacturers are competing for market share in Kashmir as bank finances ensure that more and more households can own one. R S Gull ...
Countering Recession
J&K Bank has came out with four products including the revised DastKaar Finance, a product launched a few years back. Avowed objective for the...
