#Day42: Public, Private Sector Undertakings Incur Massive Losses, says Govt

KL NEWS NETWORK

SRINAGAR

C P Ganga

The Industries and Commerce Department Friday said the public and private sector undertakings have suffered massive revenue and production “losses” because of the on-going situation in Kashmir.

At a review meeting chaired here today by the Commissioner Secretary, Industries and Commerce, Shailendra Kumar it was informed that the unrest is taking a heavy toll on the revenue of different Public Sector Undertakings of the State Government as well as that of private industry in Kashmir, an official spokesperson said this evening.

The meeting was informed that according to preliminary estimates, the net revenue losses of various Public Sector Undertakings in Kashmir, during the last 42 days of turmoil has accumulated to Rs 9.07 Crores approximately with accumulated turnover/production losses of Rs 123.00 Crores approximately.

“Likewise, the estimated net revenue losses suffered by the Private Sector Industry in Kashmir during the last 42 days have accumulated to Rs 286.44 Crores approximately, with turnover/production losses accumulating to Rs. 1911.00 Crores approximately,” the meeting was told.

The meeting was further informed that in addition some Jammu based SSI Units have also suffered production losses due to the present turmoil in the Valley.  “As per information gathered, revenue losses suffered by Jammu based SSI Units works out to the tune of Rs 90 crore approximately with the turnover losses Rs 600 Crores approximately,” the meeting was told.

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