JAMMU: Chief minister Mehbooba Mufti today ordered to fast track the creation of additional infrastructure at the trading points along the Line of Control so that the trade could be shifted from barter to banking system.
With RBI’s nod to shift from barter to banking system for cross-LoC trade, the Chief Minister has ordered fast-tracking of creation of additional infrastructure at Salamabad in Uri and Chakan da Bagh in Poonch, the two trading and travel points across the LoC, an official spokesman said.
Industries and Commerce (I&C) Department Secretary Shailendra Kumar assured that work will commence in May and full-body scanners will be installed at both the trading points within next 12 to 18 months.
On the issue of rehabilitation of sick units, the chief minister was informed that not much headway has been made as the component of interest subvention was not incorporated in the soft loan scheme.
I&C Secretary said an Assets Reconstruction Company has been proposed with a corpus of Rs 15 crore which can target revival of 50 per cent of sick units. (AGENCIES)
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