A delegation of Federation of Industries, Jammu (FOIJ) under the Chairmanship of Lalit Mahajan along with Executive Members of the Federation met Sat Sharma (C.A.) State BJP President in the presence of Harinder Gupta, BJP State General Secretary to discuss the issues related to the Central Package of Incentives for the Industrial Sector of J & K and submitted a Memorandum in this regard.
During the course of discussions, Mahajan raised the serious concern in respect of delay in the restoration of 100 percent central excise refund, extension of income tax holidays, setting up of mother Industry and other issues related to the Industrial Sector in spite of repeated Representations made to the Central Govt. in last two years. Moreover the DIPP Package for the Capital Investment Subsidy, Interest Subsidy and Insurance Subsidy is going to be expired in June 2017 which also put a question mark on the future growth of Industries in our State as it is not possible without the Central Govt. Incentives due to Additional Cost of Raw Materials & Dispatch of Finished Goods to the other parts of the Country, land Lock State and limited Marketing Avenues.
Chairman Lalit Mahajan requested Sat Sharma to lead a delegation of FOIJ along with the Member of Parliaments from our State to meet Union Finance Minister Union Minister for Commerce & Industries to resolve the issue on the priority basis by restoring the Central Excise Package with full refund of Excise Duty, Extension of Income Tax Holidays, Extension of DIPP Package, Exemption to Industrial Sector from the preview of Goods & Services Tax & setting up of mother Industry in our State for future growth of Industrial Sector of J&K.
Sat Sharma gave a patient hearing to the suggestion given by the Members present and assured the delegation that he will take up the matter with Union Finance Minister and Union Minister for Commerce & Industries on priority basis and promise to lead the Delegation as early possible.
The meeting was also attended by Rajesh Jain, Vijay Aggarwal, Ajit Bawa, Romesh Badyal (Co-Chairmen FOIJ), SB Abrol Secretary General FOIJ, Ajay Langer Convener FOIJ along with Sandeep Mittal General Secretary Kathua Industrial Unit Association & Retash Mahajan General Secretary Samba Industries Association.