Srinagar, Aug 22:: The Federation of Chambers of Industries Kashmir (FCIK) on Friday flagged some of the burning issues confronting existing industries with Chief Minister Omar Abdullah, seeking immediate measures pending finalisation of the Revised Industrial Policy.
A delegation of FCIK, led by Head of its Advisory Committee Shahid Kamili, met the Chief Minister and impressed upon him that while the industrial fraternity looked forward to a comprehensive and forward-looking Revised Industrial Policy, several pressing problems had assumed urgency and could not await completion of the policy-formulation process.
While appreciating the Government’s decision to review the existing Industrial Policy and the extensive stakeholder consultations undertaken by the high-level committee constituted for the purpose, FCIK hoped that the concerns and consensus-based recommendations of the industrial fraternity would find due place in the revised policy and requested that the draft be shared with stakeholders for feedback before its final approval.
FCIK, however, stressed that several critical issues could not await the new policy and required immediate interim intervention which include early enactment of a statutory Ease of Doing Business framework, incorporating a genuine single-window system, self-certification, automatic renewals, deemed approvals, simplified procedures, digitisation and rationalisation of recurring fees and charges affecting MSMEs.
On public procurement, FCIK sought meaningful protection for local manufacturers through strengthening of SICOP, MSME-friendly e-tendering and assured allocation of a prescribed share of Government orders to eligible local manufacturers willing to match competitively discovered rates.
Drawing attention to growing industrial sickness and stressed bank accounts, the delegation sought the Chief Minister’s intervention for introduction by J&K Bank of a transparent, uniform and non-discretionary One-Time Settlement (OTS) Scheme, broadly on the pattern of SBI’s 2020 scheme, however, without linking it to the value of collateral securities. FCIK sought a reasonable haircut on the principal NPA balance, besides waiver of unapplied, penal and compound interest, and urged that coercive recovery proceedings be kept in abeyance until eligible MSMEs are afforded an opportunity under an appropriate settlement or revival framework.
FCIK also sought a time-bound amnesty for electricity and other Government dues, including relief from penal interest, surcharge and demand charges on power arrears, reasonable installments for settlement of dues, waiver of penal and compound interest on lease rent and other Government liabilities, and resolution of legacy VAT demands involving units that had enjoyed exemption under the policy then in force.
The delegation further highlighted the acute raw-material crisis facing mineral-based industries, particularly Plaster of Paris and stone-crushing units, due to delays in renewal or finalisation of extraction contracts. It cautioned that continued disruption could force operational units to close, affect employment and impede developmental works, particularly in Kashmir with its limited working season. FCIK sought an immediate lawful arrangement for regulated supply until the contracting process is completed.
The Chief Minister assured the delegation that the Government would take all possible steps to mitigate the pressing problems confronting the industrial sector. He further assured FCIK that the issues raised would be taken up with the concerned authorities and follow-up meetings held during the coming week to work towards their resolution.
FCIK expressed hope that the Chief Minister’s intervention would provide much-needed immediate relief to existing enterprises while the broader Revised Industrial Policy is being finalised.
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