Unrest in Kashmir leads to piling up of stocks of Jammu MSMEs; industry demands extension of date for filing VAT returns

Jammu, July 26 (KNN) To discuss the difficulties being faced by the industrial sector of Jammu region due to ongoing unrest in the Kashmir Valley from last 17 days, a meeting of the members of the Federation of Industries, Jammu was held today.

Members raised serious concerns about the suspension in the supply of industrial goods to the valley resulting into pilling up of stocks in their units due to which the manufacturing activities of industrial sector stands still and they have no option but to stop the production in near future.

The industrial sector of Jammu totally depends for the supply of their finished goods to Kashmir valley and any disturbance in the supply chain adversely affectd the working of the units resulting into huge financial ‎crunch as well as due to non-working of banks. 

The working capital limits of industrial units stands blocked due to non-movement of finished goods from last 17 days, said an official release.

The issue regarding the disturbance in the nternet services in the state was also discussed in the meeting & members shown their concern in respect of filing their VAT Returns in time.‎

Federation of Industries, Jammu has requested Mehabooba Mufti, Chief Minister J&K, Dr. Haseeb A Drabu, Finance Minister and Chander Parkash, Industries & Commerce Minister for the extension of date for the filing of VAT Returns and has also requested to take up the matter with the Centre to wave off the interest on working capital & term loan for three months. ‎(KNN Bureau)