Kashmir chamber seeks sops

The Federation Chamber of Industries Kashmir (FCIK) has urged the state government to declare the Kashmir region of the state an industrially backward area, given the "immense losses the traders in the Valley have suffered because of the political unrest of the past 15 years".

"The Kashmir Valley cannot be treated on a par with Jammu. The entrepreneurs in the Valley have suffered colossal losses during the long phase of political unrest and the government has not been able to set up industrial infrastructure in the state", a statement issued by the chamber said.

Despite the moribund industrial culture in the state, the current industrial policy of treating Kashmir on a par with Jammu has done great injustice with the entrepreneurs of this place, the federation said.

"The Jammu region has witnessed tremendous industrial growth during the last fifteen years," it said. It is a matter of great concern that governments at the Centre and the state have in their respective industrial policies treated both the regions on a par.

"Here we do not have a single multinational company. Besides, no foreign industrial giant has agreed to make investment in Kashmir.," the statement said.

Making an appeal to the State Government to persuade the Central Government to announce special incentives for the existing and prospective units in the Valley, the federation claimed it would show the real concern of the government towards its endeavours to help the business flourish in the state.

Accusing the government of being indifferent to the problems of the industrialists, the statement said the income tax exemption announced by the Centre for the post-1993 units has not been availed of by the Valley-based units.

"No unit was set up after this period in the Valley for obvious reasons and as such this exemption needs to be extended for next 10 years", the statement said.