FCIK, KCCI submit memorandum to Amit Shah, pitch for industrial rejuvenation in Kashmir

Srinagar, Oct 5: A joint delegation of several business and industry chambers of Kashmir submitted their memoranda to Home Minister Amit Shah during a meeting held at Srinagar on Wednesday, calling for governmental intervention to support the rejuvenation of the struggling business and industrial units in Jammu & Kashmir.

While a joint memorandum was submitted by the Federation Chamber of Industries (FCIK) and Kashmir Chamber of Commerce and Industry (KCCI) to the Home Minister, representatives of FICCI, CII, Kashmir Pashmina Organisation, Pashmina Karigar Association, Meeras were also invited to the meeting.

FCIK team led by President Shahid Kamii and comprising of Vice President Nisar Ahmad & Secretary General Ovees Qadir Jamie submitted a charter of demands and said that Kashmir enterprises “were currently passing through their worst ever situation that has brought them on the brink of closure and extinction.”

“During the past three decades of un-conducive working atmosphere, the enterprises have suffered immense losses because of frequent business interruptions. The miseries got doubled during past over one decade with volatile situation in 2008, 2009, 2010, 2016, 2019 followed by subsequent lockdowns which was further followed by Covid-19 impact of which remained till 2021”, FCIK further said.

Ziraat Times here reproduces the full text of the joint memorandum submitted by FCIK and KCCI:

Joint Memorandum submitted By FCIK and KCCI

The Hon’ble Union Home Minister Seeking his kind intervention for Survival and Revival of Businesses in Kashmir Valley

Shri. Amit Shah Ji, Hon’ble Home Minister, Government of India.

Dear Sir,

With utmost respect and reverence, we take this opportunity to solicit your kind and immediate intervention in saving dilapidated Kashmir businesses from a point of no return.

Sir, Kashmir enterprises are currently passing through a worst ever situation that has brought them on the brink of closure and extinction. During the past three decades of un-conducive working atmosphere, the enterprises have suffered immense losses because of frequent business interruptions. The miseries got doubled during past over one decade with volatile situation in 2008, 2009, 2010, 2016 followed by subsequent lockdowns which was further followed by Covid-19 impact which remained till 2021.

The resultant effect of these situations is that the capital and the borrowings of enterprises have dried up and the number of NPAs and stressed accounts in banks have increased. The retrenchment of labour is taking place at a fast track adding alarmingly to already high ratio of unemployment. The productivity has drastically been reduced for low market demand as well as change in government policy for procurements.

The pitiable condition of the existing enterprises may definitely have its impact on the prospective investors’ confidence that in turn has the potential to adversely affect the massive industrialization programe of the your government.

The situation is alarming and before it turns uglier, we may kindly request you for the following immediate interventions:

1. To constitute a time-bound Task Force or a High level committee for recommending slew of measures necessary for survival, revival and rehabilitation of business enterprises in Kashmir. The stakeholders may kindly be made part of the Task force/ committee.

2. To put all harsh, punitive and coercive action by Banks, Tax, Labour and other government departments against defaulting enterprises on hold till the recommendations of Task force/ committee and subsequent approval to these by the competent authority.

3. To earmark a portion of recently announced PM package of incentive scheme of 28400 Crores for marketing, expansion, revival and sustainability of existing business enterprises.

4. To provide marketing support to local enterprises in all Government procurements.

5. To announce a Carpet and other Handicraft Villages in Union Territory of J&K to enhance employment, decent wages and respectable livelihood for Artisans.

6. Logistics issues to be sorted out on priority as Srinagar-Jammu highway transit time for commercial vehicles is more than 7 days, which destroys our local economy as mostly we export fruits and food processing items from Kashmir to rest of Country. Being perishable in nature the quality of those items diminishes and fetches less than half price in the market due to excessive time in transit. Bottle neck of Ramban to Banihal has to be sorted out immediately till than Air Freight Subsidy should be extended to all Fruit and Food Industry and alternate road arrangement need to be made particularly for commercial vehicles.

7. Direct Air connectivity to all metropolitan cities and GCC Countries should be done on priority to enhance exports from this region.

Thanking you in anticipation.