Excelsior Correspondent
SRINAGAR, Sept 14: A delegation of Federation Chamber of Industries Kashmir (FCIK) today met Additional Chief Secretary Finance Atal Dulloo and put forth various demands of the traders.
Commissioner Commercial Taxes Showkat Aijaz Bhat was also present in the meeting. President FCIK Shahid Kamli raised various demands which include marketing support to the ailing local industry. Further, he said that despite “Delayed Payments Act” in force, the due payments to the enterprises are not being made in time resulting in huge losses incurred by them, besides undermining of their reputation with creditors and bankers.
Kamli said the enterprises have dried up their working capital by paying off towards their establishment cost during the lockdowns and therefore requires support from the Government to overcome their liquidity crunch. He said that the clean slate for VAT regime should be provided as before introduction of GST regime, industry was promised of a clean slate for VAT regime. He added that the Procedural Guidelines needs to be issued for disbursement of soft as the matter is pending from last one year despite being included in New Industrial Policy.
FCIK secretary general Ovees Qadir Jamie highlighted that Government should purchase products from local Industry rather than GeM portal, as recently there have been orders worth crores which has been given to outsiders. He said the New Industrial Policy should be made favorable for unit holders and the Local Purchase policy shall be immediately introduced to save the Industry.
He also demanded that MSME units who are not in a position to pay interests/installments on their accounts and have applied for OTS (one time settlements) may be allowed through fast track mode. He also emphasized for extension of date of amnesty of PDD bills up to December 31, 2021.
The Additional Chief Secretary Finance heard all the suggestion and demands of FCIK and assured redressal of the grievances.
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