Release Rs 200 cr for revival of sick industrial units: LA Panel to Govt

SRINAGAR, JULY 31: The Committee on Estimates of Jammu and Kashmir Legislative Assembly met here today under the chairmanship of MLA, Javaid Hassan Beigh to review the overall functioning of Industries and Commerce Department. The panel asked the government to release Rs 200 crore for revival of sick industrial units.

Legislators, Mubarak Gul, Usman Abdul Majid, Ishfaq Ahmed Sheikh, Ranbir Singh Pathania, Er Abdul Rashid, Raja Manzoor Ahmad, Abdul Rahim Rather, Ramesh Arora and Yasir Reshi attended the meeting and gave their suggestions for further improvement of the Industries and Commerce Department.

The Committee held threadbare discussions regarding revival of defunct and sick industrial units in the state. The Committee stressed upon the concerned to approve and release funds to the tune of Rs 200 crore, for which a proposal has already been submitted by I&C department which is in pipeline since long. It observed that if the funds are not released early it will affect the revival of defunct and sick units of Industries department badly.

The committee stressed upon the concerned department to identify the defunct and sick units in the State and submit a proposal with measures for their revival. It also urged for boosting the local trade in the industrial units which will not only provide income to a large number of people but will also provide employment opportunities to the educated youth.

Financial Commissioner , Industries and Commerce, Khursheed Ahmed Ganai briefed the committee about the overall functioning of the department. He also gave details of present status of different sectors of industries department besides physical and financial status of the department.

He also highlighted the aims and objectives of the different schemes implemented by the department for encouraging the unemployed youth to set up industrial units including physical and financial help by way of incentives, subsidy being provided to them.

Among others, Managing Directors of SIDCO, Director Industries, MD SICOP, Director Handicrafts, MD JK Minerals, MD JKHDC, MD JK Cements, MD Handloom Corporation, besides Officers and Officials of Assembly Secretariat were present in the meeting.

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