J-K approves state healthcare investment policy to boost medical infrastructure

The Jammu and Kashmir State Administrative Council (SAC) Friday approved the 'State Health Care Investment Policy-2019' aimed at promoting private parties and entrepreneurs to set up healthcare infrastructure in the state.

The policy is expected to improve accessibility of quality healthcare services to the people, promote establishment of hospital, medical and allied educational infrastructure and establish the state as a destination of choice for private healthcare service providers, besides promoting medical tourism, a spokesperson said.

The SAC met under the chairmanship of Governor Satya Pal Malik here Friday evening.

"The State HealthCare Investment Policy-2019 aims to promote/ encourage private parties/ entrepreneurs to set up healthcare infrastructure in the state for which the government shall provide subsidies on various fronts to the entrepreneurs," the spokesperson said.

He said the salient features of the policy include 30 per cent subsidy on capital investment to be provided for setting up of multi-speciality and super-speciality hospitals, medical, nursing and paramedical colleges.

The spokesperson said the other salient features of the policy include interest subsidy at a rate of five per cent per annum on term loan subject to a ceiling of Rs 15 lakh per year for a period of five years from the date of operationalisation of the project and subsidised power tariff rates as applicable to the industries sector.

Single-window clearance mechanism would be adopted for processing the project proposals with final approval to be accorded by Apex Level Project Clearance Committee (ALPCC), the spokesman said.