FCIK expresses gratitude to Govt for paying 2nd installment of 5 percent interest subvention  

Will guide aspiring Entrepreneurs identified through different programmes: Shahid Kamli

Will guide aspiring Entrepreneurs identified through different programmes: Shahid Kamli

 

 

Srinagar, Feb 11: President Federation Chamber of Industries Kashmir (FCIK) Shahid Kamli today expressed gratitude to Lieutenant Governor administration for handing over a cheque of Rs 250 crore to Jammu and Kashmir Bank as the second installment of 5% Interest Subvention under Economic Package.
Saying that 5 % interest Subvention would provide a major relief for the business sector in J&K, President Kamli hoped that the LG administration would continue the initiative in J&K till the economy is back on track.
Kamli said that FCIK would support the Government in providing guidance to the aspiring youth which the Government had identified to become entrepreneurs under the Back to Village and My Town My Pride programmes.
However President Kamli seeks intervention of LG Sinha to address the issues of unit holders with financial lending institutions.
"Those unit holders who are tired and unviable may be given exit route by way of OTS and the unit holders who still want to sail through even after distressed times over the years may be restructured and given ample working capital to restart their business immediately as the working season has started after COVID and harsh winters slowdown," Kamli said in a statement.
The FCIK President seeks intervention of LG Sinha to compensate the business community for the losses suffered after August 5, 2019 and extending provision of benefits of industrial policy to the existing unit holders.
President Kamli asked the LG Manoj Sinha and Chief Secretary to allow existing industry to be a part of the recently announced Industrial Package so that they unit holders are able to revive their units which is ailing since 2009.
"The existing industry is employing lakhs of skilled and unskilled people in the valley even during difficult times. It should be the policy matter of the Government to cover the existing industry with any package or initiative which is announced for aspiring entrepreneurs. Government should actually give existing industry credit for contributing to the GDP of the state even in a slump period; it is time for the Government to reciprocate them," he said in a statement.
FCIK also demands release of due payments from Govt Departments which they owe to the unit holders so that capital flow will help industries to run smoothly, Kamli said in a statement.
President Kamli added that they are hopeful that LG Manoj Sinha will address all the concerns of the business community at the earliest.(KNS)

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