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| KCC&I lambasts govt for not keeping funds regarding buy back of power projects from NHPC | | | Jehangir Rashid
SRINAGAR, Feb 14: Kashmir Chamber of Commerce & Industry (KCC&I) has expressed dismay and disappointment over the budget presented by Finance Minister, Abdul Rahim Rather in the assembly on Thursday.
President, Kashmir Chamber of Commerce & Industry, Sheikh Ashiq Ahmad has said that state government has failed to keep a fund for the buying back of the power projects being run by National Hydroelectric Power Corporation (NHPC) in Jammu & Kashmir. Ashiq said that if some amount would have been kept for this provision then state government could have easily gone for buying back NHPC power projects.
"Finance Minister would have made us economically self sufficient by providing the road map of taking back of NHPC power projects by keeping provision of funds for buying back these NHPC run power projects. The government had made a commitment that this would be done but that is not to be so and it is highly disappointing," said Ashiq.
The KCC&I President said that buying back of the NHPC power projects is a necessity for the sustainable economy of Jammu & Kashmir. He lamented that in the budget no new initiative has been taken by the state government for the economic development of the state.
"The KCC&I in its pre-budget meeting with Finance Minister had proposed a unique model for Handicrafts, Horticulture, Floriculture and Industrial development under the scheme of Public Private Partnership (PPP) mode. Keeping in view the financial constraints both the state and central governments have understood the importance of PPP in developing the different sectors of the economy, but still then there is no mention of the same in the budget presented by the state government," said Ashiq.
Dwelling further on the issue the KCC&I President said that the model as proposed by chamber in the above sector envisaged that a grant of more than Rs 450 crores from the central government with an investment of Rs 40 crores form the State which has not been provided in the budget.
"The demand of traders from the Kashmir valley that all the goods coming to valley should be checked at Lower Munda and not at Lakhanpur has not been accepted by the state government. No provision of funds has been made for the revival and rehabilitation for the industrial units that have become sick particularly in the Kashmir valley," said Ashiq.
The KCC&I President said that trade related issues discussed with the Finance Minister in the pre-budget meeting find no place in the budget. He said KCC&I welcomes provisions like non-imposition of any new tax, continued exemption to the industries and tourism sectors and increasing of audit limits from 60 lakhs to 1 crore. |
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