Jammu and Kashmir Deputy Governor Manoj Sinha announced on Saturday an economic package of Rs 1,350 CR for the business sector and a 50% discount on electricity and water bills for one year for all sectors of the Union territory.
“I have met with almost 35 delegations from various sectors … a committee was formed which was headed by my advisor KK Sharma. Committee submitted its report on time … on committee recommendations, package [has been announced]… ”Sinha said. “This is a start and there is more to come.”
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Sinha’s announcement comes as companies in the region are reeling from massive losses since August 2019, when a blackout and blackout was imposed to prevent protests against the Center’s decision to strip Jammu and Kashmir of its special status. and divide it into two Union territories. Mobile Internet services continue to be restricted in the region even as other restrictions have been eased. Covid-19 and the blockade imposed this summer to control its spread proved to be a double whammy for businesses. Restrictions on the mobile Internet have hurt e-commerce that has gained in other parts of the world during the pandemic.
Sinha said the package is in addition to the 1.4 billion rupees announced for Jammu and Kashmir under the Aatma Nirbhar Bharat Abhiyan (Self-Sufficient India) campaign. She said a separate package will be announced for haulers, taxi drivers, autorickshaw drivers, houseboat owners and shikara who have faced problems. She added that there will be an exemption from stamp duty until March 2021 for all borrowers. “Beginning October 1, Jammu & Kashmir Bank will install special desks for youth.”
Sinha said the 50% refund on electricity and water bills for one year will go to all sectors, including ordinary households, entrepreneurs, industrial unit owners, farmers and others. “… for this, the government will spend 105 million rupees. This has been done for everyone, ”said Sinha. He added that the Center is also working on a new industrial policy for Jammu and Kashmir.
The president of the Kashmir Chamber of Commerce and Industries, Sheikh Ashiq, said Sinha has kept his promise and announced the package and that the business community appreciates the gesture. “We are reviewing the components of the package. If there is any deficiency, we will meet again [Sinha]. We are really grateful. “
He cited Sinha’s promise of more help and said that they hope these initiatives will be helpful to the business community.
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