SRINAGAR: The Federation of Chambers of Industries Kashmir (FCIK) has urged the newly-formed government under Chief Minister Omar Abdullah to prioritise the revival of struggling industries and address the growing issue of non-performing assets (NPAs), which are crucial for the sector’s recovery.
FCIK has called for a unified, comprehensive policy that consolidates incentives from central and UT government schemes to streamline support for local enterprises.
In an Advisory Committee meeting chaired by FCIK President Shahid Kamili, members expressed concerns over the precarious state of local industries, many of which are on the brink of collapse due to neglect and indifference. They emphasised the need for urgent consultations with stakeholders to address the pressing issues and ensure industrial growth and sustainability.
The FCIK highlighted how many challenges faced by various industrial segments were successfully resolved during Omar Abdullah’s first tenure from 2009 to 2014. The members recalled that thousands of wood-based units, which had been facing closure due to a Supreme Court order, were regularised due to Omar Abdullah’s prudent planning and active involvement from FCIK.
While congratulating Omar Abdullah and his cabinet on assuming office, FCIK members noted concerns over the exclusion of local chambers from important boards and committees, urging the government to involve stakeholders in the decision-making process as was done during Abdullah’s previous tenure.
FCIK also stressed the immediate need for a public procurement policy to support local industries, lamenting the historical neglect of local enterprises in government purchases. President Shahid Kamili expressed optimism about collaborating with the new government to tackle these critical issues and work towards creating a thriving industrial environment in Jammu and Kashmir.
