JK News Today

Jammu, December 06:

ASSOCHAM J&K Council today submitted pre-budget suggestions to Atal Dulloo, Additional Chief Secretary, Finance Department J&K in a meeting at Civil Secretariat on Monday.

Manik Batra, Chairman, ASSOCHAM J&K Council briefed Additional Chief Secretary about the issues being faced by the trade and Industry of Jammu and Kashmir and shared some suggestion for the upcoming budget.

“J&K is a land locked union territory, most of the raw material is procured from outside the UT and finished goods are again sent out to different states this makes the cost of operations high. We request for a freight subsidy for all industrial units in J&K to make operations more viable and competitive,” said Manik Batra.

“We also request the government to grant Free Hold Rights to the units in Industrial areas. This will help the unit holders to avail better credit facilities from financial institutions and will also be a good source of revenue for the Government as well,” he added.

ASSOCHAM also discussed about GST refunds, Access to Finance, Reservation to locals in land allotments, Power tariff and development of new industrial estate.

Additional Chief Secretary gave patient hearing to ASSOCHAM and assured that the suggestions given by ASSOCHAM will be considered in the upcoming budget.