Prepare estimate of interest liabilities of industries in J-K: Murmu to fin dept

Jammu and Kashmir Lieutenant governor G C Murmu on Thursday directed the finance department to prepare an estimate of interest liabilities of industries operating in the union territory, an official spokesperson said.

The State Administrative Council, which met under Murmu here, discussed the difficulties being faced by the local industry, he said.

Talking to reporters, government spokesperson and Principal Secretary Planning Rohit Kansal said the Lt governor directed the finance department to prepare an estimate of interest liabilities of industries operating in J and K owing to the situational difficulties being faced by these industries.

"It was decided that the finance department will carry out this exercise in consultation with other departments such as industries department etc. The department will also prepare an estimate of the forebearings required to see that the local industries can be revived and start functioning normally," Kansal said.

He said the industries department will also engage in a widespread stakeholder consultation in order to prepare a policy for incentivising the local industry on similar lines as is being done for attracting investors from outside.

These consultations will be combined into a comprehensive package for having vibrant industrial and tourist eco system in J&K, he added.

On proposed investment summit, Kansal said the Administrative Council also reviewed the progress with regard to it.

"Considering the large amount of investment being targeted and consequently the work noted to be done in facilitating these investments, the administrative council also accorded approval to the creation of a post of industries commissioner in the industries department in the pay matrix 14," he said.