Jammu, Jan 2 (KNN) Federation of Industry Jammu (FoIJ) has urged upon the Jammu and Kashmir (J&K) administration for the timely completion of languishing projects of Industry here.

As per the official statement, Chairman FoIJ, Lalit Mahajan and presidents of the Industrial Associations of Jammu Province, while extending gratitude to the Lt Governor Manoj Sinha for the creation of New Industrial Estates in Union Territory of J&K, demanded timely completion of the languishing projects of Industry in J&K.

Mahajan, also lauded the decision of J&K Administration for identification of over 57,000 acres of land for setting up New Industrial Estates for prospective entrepreneurs, out of which 15,000 acres of land have been identified in Kashmir valley, 42,500 acres in Jammu region for Development of more Industrial Estates.

''This initiative will go a long way in boosting the Industrial scenario in J&K to generate employment opportunities and contribute to the local economy, for which Industrial Policy 2020 is already under the active consideration of the Government and it is the need of the hour to provide state/central government Fiscal Incentives to existing units, units under substantial expansion and new units keeping in mind the factors like locational disadvantages, shallow market avenues within J&K due to hostile neighbouring countries,'' he added.

Quoting several media reports, FoIJ chairman said that 21 Projects of Industries & Commerce Department have been dropped from the funding under JKIDFC.

''It is unjustified on the part of JKIDFC to drop the 21 Projects of Industries & Commerce Departments from the funding of JKIDFC which will put an adverse effect of the completion of the projects which were planned keeping in mind the growth of Industrial Sector of J&K,'' he asserted.

 Federation requested Lt Governor, Sinha and MK Dwivedi, Commissioner/ Secretary, Industries & Commerce Department to intervene into the matter to ensure that JKIDFC should provide requisite funds for the up-gradation of existing Industrial Estates and development of New Industrial Estates in time bound manner.