J&K LG seeks detailed report on measures taken for business revival in UT

Jammu and Kashmir Lieutenant Governor Manoj Sinha (file photo)

Abid Bashir

Srinagar (NVI): Jammu and Kashmir Lieutenant Governor Manoj Sinha today sought a detailed report on a host of financial and administrative measures recommended for the revival of the business sector in the Union Territory.

He accorded timelines, aimed at helping business and entrepreneurs and steps taken thereon. J&K government’s official spokesman said that the LG made these remarks while chairing a high-level meeting of the committee constituted to suggest measures for revival of business in J&K. The LG recently had announced Rs 1,350 crore package for the revival of business in the UT.

“Business sector is the backbone of every economy and it is important that the government machinery must lay a special focus on its revival and for the welfare of the people associated with it,” the official spokesman quoted the LG as saying.

“The Lt Governor stressed on effective implementation of the recommendations made by the Committee as per the timelines set up by the government to improve the overall business environment of J&K,” he added.

The official spokesman said that LG Sinha directed the officials to disburse the financial assistance to the beneficiaries at the earliest.

“The LG directed for holding Workshops for awareness of NPA and GEM on-boarding to be held in 20 districts for 10 days which shall be jointly organized by the Finance Department and J&K Bank. He also called for extending support to small businesses, weavers, artisans by effecting purchases by government departments exclusively,” the official spokesman said.

The Lt Governor also took stock of the progress made on various financial measures recommended by the Committee including interest subvention of 5% in case of all borrowers excluding borrowers under KCC, ACC, Loan against deposits, loans under personal segments, NBFCs.

Apart from that, he took stock of 50 % waiver of the fixed charges of electricity in respect of the Industries and Commercial Establishments for a period of 1 year from January 2020 to December 2020; 50 % waiver of the water charges in respect of the Industries and Commercial Establishments for a period of 1 year from January 2020 to December 2020.

In addition to this bus drivers/cleaners/sumo drivers and auto drivers who have moved to construction works shall be registered with the building and other construction workers board and paid monthly remuneration of Rs 1000 each in DBT mode for a period of six months as per norms.

The LG also took stock of release of pending interest subvention under 2014 and 2016 rehabilitation schemes for restructured accounts; 80% subsidy amounting for installation of the bio-digesters in the Houseboat; 50% subsidy or Rs 5.00 lakh whichever is lower shall be provided to the transporters for replacement of old buses, etc.