Excelsior Correspondent
SRINAGAR, Nov 1: The much-hyped project of setting up of an International Trade Centre (ITC) in Pampore town in Srinagar outskirts has remained a distant dream, dashing hopes of the Valley’s traders and businessmen.
Seven years ago, the then Union Minister for Commerce Jairam Ramesh and then State’s Chief Minister Ghulam Nabi Azad laid the foundation stone for the first ever ITC in Kashmir. But after that the project has not seen any progress.
Traders who had anticipated that the Centre would give a huge fillip to their trade and commerce have lost their hope, and blame the State Government for not taking up the project ahead.
Kashmir Chamber of Commerce and Industries (KCCI) president, Shiekh Ashiq said delaying the construction of the project has led to sort of economic stagnation in the Valley.
“It (ITC) would have boosted our business sector. For last seven years there has been no progress on the project,” said Bilal Wani, a resident of Pampore.
Proposed to be built on 378 kanals of land, the Centre would house all business and corporate offices in its premises.
The then Central Government had released only Rs 5 crore for the project on which a fence was raised around the proposed site.
Managing Director of ITC, Tariq Ahmad Ganaie told Excelsior they have almost completed the formalities for the construction of the trade centre. He said the work on the project will be kick started on December 1.
“The project is being implemented in two phases. We have completed the phase-1 in which processes like land transfer and framing Special Purpose Vehicle (SPV), which is like a single window clearance system, DPR has been completed and the business plan for it is also being worked out,” Ganaie said.
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