Srinagar, March 14: A delegation of the Kashmir Chamber of Commerce and Industry led by Nasir Hamid Khan, Senior Vice President on Thursday called on K Skandan, Advisor to Governor.
The spokesman said that Nasir Hamid Khan while
deliberating upon the precarious state of our economy suggested measures for
the protection of our industries. He stated that a big impediment in the growth
of our business sector especially industries was the ad-hocism in the
formulation of policies, improper implementation and their frequent chopping
The Advisor was apprised about the fact that the
economy of Kashmir had to bear the impact of demontisation and GST
implementation when it was already reeling under the effects of the 2014 Floods
and 2016 turmoil. The financial capacity of people had been reduced to such an
extent that it was getting difficult to even meet taxation obligations.
The simple transportation of apples to markets had turned
into a nightmare due to the frequent closure of the Srinagar Jammu Highway.
Whereas our neighbouring state of Himachal Pradesh had procured thousands of
crores from the World Bank and the Asian Development Bank for the development
of the Horticulture Sector including Apples and Walnuts, we had not been able
to properly develop this industry. The Advisor stated that proper linkage and
marketing studies needed to be done for ensuring that the Kashmiri products are
available at all major markets. In this regard, he suggested that the KCC&I
being stakeholders should jointly work with the Horticulture Department so that
effective policies and permanent solutions are developed.
The Vice President informed Hon’ble Advisor about the
problems arising out of delays and difficult eligibility criteria’s for
availing various schemes, especially under MSME. He said that the business
community suffered due to faulty Master Plans which had failed to reflect the
requirements of a developing economy. There was a need for relaxation in the
eligibility criteria’s for Kashmir as a majority of stakeholders were not
qualifying the stringent guidelines. The delay in the release of GST refunds to
industries which had tied up substantial working capital was also discussed.
The Advisor assured that the Government
would consider delinking these refunds from the mandatory DIPP inspections or
ensuring timely refunds.
The crippling impact of GST on our handicraft sector
was discussed. As GST had had a negative impact on most unorganized sectors,
our Handicraft sector had also suffered huge losses on this account. There was
a dire need for revival through proper promotion and marketing events in
domestic and global markets.