J&K MSMEs Approached Newly Appointed Governor Manoj Sinha To Resolve Long Pending Challenges

''As most of the industrial units are waiting for the fiscal relief from the state government but instead of assurance, industries here have received nothing due to which several units are on the verge of closure,'' writes J&K Industry body to Governor, Manoj Sinha

J&K MSMEs Approached Newly Appointed Governor Manoj Sinha To Resolve Long Pending Challenges

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Economic activities, especially with respect to the functioning of MSMEs, usually remain challenging in the Jammu & Kashmir area. With regards to the last six months or so, the situation has even gone worst. With regards to a latest development, Mr. Manoj Sinha’s appointment as the Governor the Micro, Small and Medium Enterprises (MSMEs) sector of the region have started becoming hopeful. MSMEs have sought the intervention of newly appointed Governor of Union Territory of Jammu & Kashmir (J&K) Manoj Sinha to resolve industries issues pending since long.

”While welcoming the Lt. Governor on resuming the charge of J&K, we wish to draw his kind attention towards the plight of the industrial sector here which is suffering since the introduction of Goods and Services Tax (GST) in 2017 and followed by the abrogation of Article 370 since 5th August 2019, and COVID-19 situation since 25th March 2020,” said Federation of Industries Jammu (FOIJ).

FOIJ further said that in the wake of COVID-19, a task force was constituted by government to provide the immediate relief to the industries, tourism, hotel and hospitality sector but so far no relief is provided to the industries such as waiver of minimum fixed demand charges, Reimbursement of salary and wages for the lockdown period, waiver of bank interest on working capital and term loan.

The industry body also asserted that due to the existence of Industrial Policy 2016 they face difficulties in participating in the government tenders.

”We further submit that all is not well as the Power Development Department (PDD) has withheld the payment of MSME units for the supplies made under the Sobhayaga Scheme,” it added.

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