Jammu, Oct 20 (KNN) Micro and small scale sector of Jammu and Kashmir is on the verge of closure due to non-availability of state fiscal incentives as par with Pre-GST regime, Federation of Industries Jammu (FOIJ) has said.

A serious concern was raised by the Federation of Industries Jammu in a press conference at BBIA Office towards the uncertainty prevailing in the mind of MSMEs due to inadequate fiscal incentives granted in post GST Regime to around 7000 to 8000 units.

This resulted in great resentment amongst the unit holders who are providing employment to local youths,  the federation said. 

It is pertinent to mention that state Government has done discrimination while granting the fiscal Incentives to the Micro & Small Scale Units of the State, FOIJ said.

No Incentive is given to Micro and Small Scale Sector of the State for intra-state Sale of Goods, in-spite of the fact that the Micro & Small Scale units dependent on the sale of their goods within the state resulting great resentment amongst the unit Holders.

Micro & Small Scale units set up by the Sons of the Soil, which are working in the state are facing militancy since last 30 years, as there is limited Marketing Avenue and higher production cost.

Prior to the GST Regime resulting most of the units may opt for the closure of their units resulting mass scale retrenchment of local industrial workers. 

Further the position is more serious due to sharp decline in the Industrial growth in the state of Jammu & Kashmir in post GST Regime due to non-availability of state/Central Fiscal Incentives to the new units and units under substantial expansion resulting in flight of Capital from the state to other states near to the market.

The federation requested Governor Satya Pal Malik to kindly intervene in to the matter and grant the incentives to the Existing Micro & Small Scale Units of the State for their survival.

Conference included Lalit Mahajan Chairman Federation of Industries, Jammu in presence of Bansi Lal Gupta, Deepak Dhewan, Jatinder Aul, Ajit Lal Bawa Co-Chairmen FOIJ, Pardeep Vaid Secretary Ceneral, Ajay Langer Convener & members of Executive Committee Members of Federation of Industries Jammu.