Jammu Kashmir, 17 October (H.S.):

A

body of industrialists sought the intervention of Jammu and Kashmir Chief

Minister Omar Abdullah to ensure revival of the MSME (micro, small and medium

enterprise) sector of the Union Territory.

Jammu-based

Federation of Industries (FOI) hailed the formation of the National

Conference-led government in Jammu and Kashmir and congratulated Abdullah and

his cabinet colleagues.

FOI chairman Lalit Mahajan said the industrial fraternity of Jammu has a lot of

expectations from the new government and hopes it will ensure revival and

strengthening of the MSME sector.

He said the existing MSMEs, mostly run by the sons of the soil, are suffering

due to dilution of fiscal incentives and stiff competition from new units being

established under the New Central Sector Scheme (NCSS).

In his meeting with the chief minister, Mahajan highlighted long-pending issues

related to the existing MSME units, and asked for fiscal incentives for the

next 10 years.

He also urged the government to ensure reimbursement of SGST, CGST and IGST on

the basis of each unit’s turnover and demanded marketing support in terms of

giving preference to local units in procurement of goods and services by

various government departments.

“It is the need of the hour to resolve the issues on priority basis to regain

the confidence of existing industrial units which are suffering due to dilution

of fiscal incentives and facing stiff competition from the new units being

established under the NCSS.

“We request the chief minister for the revival of the industrial advisory

committee and necessary directions to the industries department to revisit the

J&K State Industrial Policy for the survival of existing MSME industrial

working units with extension of fiscal incentives for next 10 years,” the

statement said.

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Hindusthan Samachar / Krishan Kumar