Srinagar, Sept 14: Kashmir’s apex industrial chamber – Federation Chamber of Industries (FCIK) -today had a detailed meeting with J&K’s Additional Chief Secretary, Finance, Atal Dulloo, along with Commissioner Commercial Taxes Showkat Aijaz Bhat.
FCIK team comprising of Administrative & Executive Council Members and led by its President FCIK Shahid Kamli put forth various demands which includes marketing support to the local industry, ‘considering that Kashmir industry was heading towards sickness without marketing support.’ Further, he said that despite “Delayed Payments Act” in force, the due payments to the enterprises are not being made in time resulting in huge losses incurred by them besides undermining their reputation with creditors and bankers, according to a statement issued to Ziraat Times.
FCIK Secretary General Ovees Qadir Jamie highlighted that government should purchase from local industry rather than GeM portal orders. As recently there has been orders worth crores which have been granted to non-J&K industrial entities.
“The new Industrial Policy should be made favorable to unit holders and the previous orders should be kept in force not in abeyance, particularly related to Marketing as the finance department had issued the order which has made majority unit holders idle without any work. The Local Purchase policy shall be immediately introduced to save the Industry”, he added.
Mr Kamili said the enterprises have dried up their working capital by paying off towards their establishment cost during the lockdowns and therefore requires support from the government to overcome their liquidity crunch.
Further, Mr Kamili said that the clean slate for VAT regime should be provided as the benefits of this tax exemption was being extended by the industry and no tax collected from them. Before introduction of GST regime, industry was promised of a clean slate for VAT regime.
He added that the Procedural Guidelines needs to be issued for disbursement of soft as the matter is pending from last one year despite being included in new Industrial Policy.
FCIK demanded MSME units who are not in a position to pay interests / installments on their accounts and have applied for OTS (one time settlements) may be allowed through fast track mode. Respective banks may be instructed accordingly. Further, the accounts may be re-structured immediately without losing any further business opportunity. He added that the amnesty of PDD bills may be extended up to 31 st of Dec, 2021, so that MSME units are able to pay off these dues to PDD as maximum payments are held up with Government Departments and business losses due to post 5 th August 2019, followed by COVID-19 Pandemic till now.
The Additional Chief Secretary Finance Mr. Atal Dulloo heard all the suggestions & demands of FCIK and has assured the redressal of the grievances & issues, an FCIK spokesperson said.