Business

LG meets with KCCI, forms committee for economic revival of JK

Srinagar: Jammu and Kashmir Lieutenant Governor Manoj Sinha has announced a committee to work out modalities for the economic revival of the union territory and extending support to its business community, an official spokesperson said here on Tuesday.

The announcement was made during an interaction with the representatives of Kashmir Chamber of Commerce and Industry (KCCI) at the Raj Bhavan auditorium here on Monday.

The interaction was organised to get the first-hand appraisal of the issues and problems of the business community, the official said.

He said the event proved to be gainful for the trade bodies as important decisions were made including framing of a committee to make an assessment of the overall economic scenario and propose fresh measures to ensure its revival, extension of power amnesty scheme and taking a holistic view of policy/guidelines for registration, renewal/operation of house boats.

To provide succour to the problems being faced by the traders, Sinha announced the committee which will be headed by advisor to the Lt Governor, Kewal Kumar Sharma, and consist of financial commissioner, finance department, commissioner secretary, industries and commerce department, secretary, tourism and chairman J&K Bank, the spokesperson said.

He said the committee would work out modalities for the economic revival and propose measures for extending much needed support to the business community.

It will submit its report to the Lt Governor by September 1, so that necessary measures can be initiated in the right direction.

Taking cognizance of the demands raised by various members of the umbrella body to extend the benefits under the power amnesty scheme, the Lt Governor issued on-spot directions to extend the last date for availing of benefits under the scheme up to September 30, he said.

During the interaction, the Sinha said the trade and industries are the major impact sectors for the economic development of any region and more effective measures are on the cards to develop a conducive environment for the development and growth of industrial and business sector in Jammu and Kashmir.

Sinha directed the concerned officers to devise an institutional mechanism for taking onboard all stakeholders while formulating policies and other related issues, besides taking a fresh holistic review, after examining stakeholder concerns, in respect of policy/guidelines for registration, renewal/operation of house boats.

The members of the delegation of KCCI led by its president Sheikh Ashiq Hussain apprised the Lt Governor about a range of concerning issues of the prominent business sectors including industries, hospitality, handicrafts sector, houseboats, tourism, private schools, apple cold storage, young entrepreneurs etc., the spokesman said.

He said they also projected the socio-economic problems being faced by the people, especially the business community due to COVID-19 pandemic and other factors.

Redressing the issues, the Lt Governor assured the members of the delegation that a compassionate view would be taken for the redressal of the issues and demands projected by them.

Sinha said the UT administration is committed to addressing the issues concerning the Industries, besides promoting entrepreneurship and business opportunities for the youth of Jammu and Kashmir.

 

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