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| Anil Gupta, Senior Vice President JCCI flags tariff hike, warns of industry closures and job losses | | |  Early Times Report
JAMMU, Aug 25: Anil Gupta, Senior Vice President of the Jammu Chamber of Commerce and Industry (JCCI), has expressed serious concern over the recent hike in electricity tariffs, stating that the decision will adversely affect the trade and industrial fraternity of Jammu and Kashmir.
He said that the increase in electricity rates is not conducive to the growth and survival of local industries. Jammu and Kashmir is primarily a consuming territory, where a major portion of raw materials is brought in from outside the UT. After manufacturing, industries also have to transport their finished products to markets outside J&K due to the limited local market, while facing stiff competition from industries in other states. This results in industries bearing both inward and outward freight costs, putting additional financial pressure on them.
Gupta said that nearly 80 percent of the industry has already been forced to shut down due to the lack of a conducive industrial environment and inadequate government support. He cautioned that the proposed hike in electricity prices could further aggravate the situation and force many of the remaining industries to close down.
He further pointed out that the impact would not be limited to industry alone. Hotels, shopkeepers and other businesses dependent on tourism would also suffer. With the expansion of rail connectivity to Srinagar, tourists may increasingly bypass Jammu, further affecting the local hospitality and retail sectors.
Gupta urged the government to first formulate a comprehensive policy to promote tourism in Jammu and ensure a greater flow of tourists to the region. At the same time, he called for a comprehensive industrial policy aimed at reducing the cost of doing business and making local industries competitive.
He appealed to the Hon'ble Chief Minister to reconsider and review the decision to increase electricity tariffs, warning that the move could adversely impact both industry and tourism and pose a serious threat to employment generation in Jammu and Kashmir. |
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