KCCI submits memo to govt

The Kashmir Chamber Of Commerce and Industry (KCCI) has submitted a memorandum to the government for the promotion of businesses in various sectors.

In a statement issued here today, the KCCI secretary general Faiz Ahmad Bakshi said the memorandum was presented to Industries Minister Chander Prakash Ganga and his deputy Mohammad Ashraf Mir during a meeting held here yesterday.

KCCI president Mushtaq Ahmad Wani said the memorandum pointed out that the Valley was yet to benefit from the Centre’s Cluster Development Programme.

The industry body demanded setting up of clusters in the gem and jewellery, marble and granite, food processing, textile clusters, leather and aromatic plant sectors.

The memorandum stated that all the sick units identified by the Director, Industries, should be provided the facility of “one time settlement” by all the financial institutions.

It stated that financial institutions should waive off interest and if possible also extend a discount on the principal amount owed by the unit holders to them.