J&K will amend new industrial policy

J&K will amend new industrial policy

By NOOR-UL-QAMRAIN | SRINAGAR | 14 May, 2016
Jammu and Kashmir Chief Minister Mehbooba Mufti held a detailed meeting with Deputy Chief Minister Nirmal Singh to secure his support to roll back some clauses of the new industrial policy drafted by the State Industries and Commerce Department and approved by the State Administrative Council headed by Governor N.N. Vohra in March, when the state was under Central rule. The new policy, which will remain in force for 10 years, has lifted the ceiling on the land holdings of non-state subjects for industrial units besides permitting them to acquire land for a lease of 90 years.
Government spokesman Nayeem Akhtar told the media on Thursday that they will make necessary changes in the policy. “Chief Minister and Deputy CM told me to convey that there will be a review of whole industrial policy and the Cabinet will take the final decision,” Akhtar told the media. He said that the coalition government of PDP and BJP will not alter the special status of J&K and no land would be given on lease to non-state subjects. 
The new industrial policy says, “in case of a private promoter from outside the state, J&K Small Scale Industries Development Corporation Ltd (SICOP) and J&K State Industrial Development Corporation (SIDCO) may with the prior approval of state government acquire land through concerned District Collector on behalf of the private promoter with the cost of the land and agency charges.”
This policy can provide land to any private promoter from any part of the country on a 90-year lease at any place in Kashmir. This policy has stipulated a land bank of 20,000 kanals (250 acres) to allow promoters here to set up their business units in the year 2016.
 

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