Think about local industrial units also: DPAP

Srinagar, Jan 13: Democratic Progressive Aazad Party (DPAP) today urged the government to think about the local industrial units also before boosting private investment in Jammu and Kashmir.

According to a press release, a delegation of SSI units met today DPAP general secretary Kashmir Province Er Nazir Ahmad Yatoo here. The discussion revolved around the government's decision to boost private investment in Kashmir and the recent abolition of the toll post at Lakhanpur.

Er Yatoo raised concerns about the impact of these decisions on local industrial units in Kashmir, many of which have become non-operational. He highlighted that young entrepreneurs, after investing significantly in their projects, are now shutting down their units and seeking employment opportunities in other states. Additionally, he pointed out that banks are forcefully recovering EMIs from borrowers, adding to the economic strain.

He further added that the abolition of the Lakhanpur toll post has not only caused substantial revenue losses for the state but has also disadvantaged local SSI unit holders and business communities. He emphasised that the toll post served as a vital incentive for local businesses, preventing illegal imports and exports and ensuring that benefits remained within the state.