Jammu: A joint delegation of Federation of Chambers of Industries Kashmir (FCIK) and Federation of Industries Jammu (FOIJ) led by their presidents Mohammad Ashraf Mir and Rattan Dogra respectively met the Finance Minister Haseeb Drabu in Jammu on Tuesday and discussed various issues confronting Industries of the state with the implementation of Goods and Services Tax (GST).
The delegation apprised the minister about the impact industries are facing with the implementation of GST and majority of units will have to close operations in case the state does not come out in support of local manufacturing units as was done earlier.The Minister was also reminded of the circulars issued earlier which only benefit a handful of industries of the state keeping the majority high and dry.
The delegation pitched for a complete reimbursement of SGST and CGST which only can save the industry of state.
“The local manufacturing unit which was getting a cushion of about 13 percent previously against an outsider is now left against any outsider/big manufacturer in open competition. The local small manufacturing units work in adverse and hostile conditions and geographically disadvantaged position and therefore cannot sustain this harsh blow and need a special dispensation,” said the joint statement.
The delegation also discussed the issue of growing Non Performing Assets and asked the Minister to address the issue in the Budget session.
The issue of power surcharges and penalties was also discussed and a waiver was sought for Industries. The issue relating to marketing of industrial products manufactured by local industries,price and purchase preferences and safeguarding the interests of local manufacturing units also came up for discussions and a suitable and genuine solution in the upcoming budget was also sought.
A special treatment for sports goods industries was also discussed in the meeting.The Minister was requested to have a special package for the industrial sector of JK in the coming budget.
