Excelsior Correspondent
SRINAGAR, Aug 21: State Cabinet, which met under the chairmanship of Chief Minister Mufti Mohammad Sayeed, here this morning, accorded sanction to the extension of existing Industrial Policy for a further period of two months with effect from September 1 to October 31 or till the New Industrial Policy -2015 is notified, whichever, is earlier.
The existing Industrial Policy was announced on January 27, 2004 for a period of 10 years and expired on March 31, 2015. Initially, the Industrial Policy was extended for a further period of three months and two months beyond March 31 up to June 30 and August 31 respectively.
The final draft Industrial Policy document has almost been finalized and is being submitted to the Planning and Development Department and Finance Department for their concurrence before submission to the State Cabinet for approval.
In the meantime, the Industries and Commerce Department has taken a number of steps to ensure “Ease of Doing Business” to facilitate the industry unit holders and potential investors. More “Ease of Doing Business” measures are in the pipeline.
The Cabinet also authorised the Stores Procurement Department of PW(R&B) to buy/ procure deficit Bitumen of VG-10 grade amounting to 6500 MT from open market.
The PW(R&B) Department has undertaken a massive up-gradation programme of more than 1000 km with a consequent large requirement of Bitumen. Further, the short working season in the State, particularly in Kashmir renders the entire exercise critically time bound for which availability of the full quantity of Bitumen within the working season is a must.
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