U'khand CIP demand in trouble

The demand for the extension of excise exemption under the concessional industrial package (CIP) 2003 is getting considerably diluted in the wake of growing shortage of power, technical manpower and land in Uttarakhand.

Although the Uttarakhand government is pitching for the extension of the excise exemption, which expired on March 31, for another period of three years, leading industrial chambers have now sought from the government to issue new policy guidelines for safeguarding the interests of the new and existing industries which had grown in leaps and bounds mainly due to the CIP during the past five years.