A delegation from the Kashmir Industrial Revival & Development Forum (KIR&DF), led by its president Abdul Gani Parray, submitted a memorandum to Union Minister for Parliamentary and Minority Affairs, Kiren Rijiju, urging the government to take immediate steps for the revival of sick industrial units in Jammu and Kashmir.
The forum highlighted the economic distress faced by industries, particularly small-scale enterprises, handicrafts, handlooms, and artisans, due to prolonged instability in the region. They pointed out that industrial operations have suffered since the 1990s and further deteriorated after the abrogation of Article 370 in 2019.
According to the memorandum, previous rehabilitation efforts have failed due to a lack of funds and ineffective implementation by nodal agencies such as J&K SIDCO. The forum stressed that many affected families are struggling for survival, with stagnant accounts and increasing financial stress due to loans from financial institutions.
The delegation urged the government to introduce a comprehensive incentive package for the revival and rehabilitation of sick industrial units, including those in handicrafts and handlooms. They also called for a significant budget allocation dedicated to industrial development and support.
Emphasizing the importance of a collaborative approach, the forum requested that KIR&DF be included in discussions for framing a rehabilitation package. Additionally, they sought relief in the form of a waiver of interest on small loans taken by affected industrialists and artisans.
The delegation expressed hope that the central government would take swift action to address their concerns and ensure the economic revival of Jammu and Kashmir’s struggling industrial sector. [KNT]
