Srinagar- The Federation of Chambers of Industries Kashmir (FCIK) Wednesday signed a Memorandum of Understanding (MOU) with the Federation of Industries Jammu (FOIJ) to strengthen cooperation and coordination between the two apex industrial chambers in order to strive for rejuvenation of distressed industrial units and give boost to overall industrial and economic development.

The MOU was signed by President FCIK Shahid Kamili and Chairman FOIJ Tejwant Singh Reen in presence of Former Chairman FOIJ Lalit Mahajan and Former Presidents of FCIK Shakeel Qalander, Mohammad Ashraf Mir, Meraj Ahmad Qureshi and Zahoor Ahmad Bhat.

The two Chambers had series of virtual meetings on roadmap to mutual cooperation during past several weeks and it materialized after a delegation from FOIJ dropped in Srinagar to hold further meetings to give the MOU a final shape.

In a joint statement released for press, both the organisations regretted continued  plight, miseries and difficulties of the existing industrial units for non-implementation of the industrial policies in their letter and spirit which had affected the working of existing units and put their very survival to risk.

“the 3% turnover incentive announced and promised to the existing industrial units in the current industrial policy was substantially being withdrawn for paucity of funds putting a question mark on government commitments” regretted two chambers.

The two organisations accused the government of withdrawing all marketing incentives during currency of the policy rendering all those units workless which had their dependence on the government procurements.

“How can the manufacturing units of Jammu and Kashmir with slew of disadvantages compete with their counterparts from industrially advanced states on GeM portal without being provided with any protection” questioned the two chambers adding that the withdrawal of price and purchase preference as also delay in release of due payments had wreaked havoc on these units.

The two chambers also discussed revival and rehabilitation of sick units and impressed upon the government and other institutions to deal with these under the laid down policies and schemes besides formulating a foolproof mechanism for their rehabilitation. The chambers also put emphasis on the need for special scheme for modernization and expansion of existing industrial units.

After fully recognizing that the issues of industry in Jammu or in Kashmir were generally of common nature, the two organizations have agreed on the following 6-point programme.

  1. To establish effective discussion, deliberations, consultation, cooperation and exchange of information between the two federations.
  2. To coordinate and plead the case of industry together initially on the subjects of industrial policy, marketing, delayed payments and financial issues.
  3. To hold regular meetings physically or on virtual mode in order to facilitate exchange of views on various subjects.
  4. To hold joint press conferences whenever need aroused on specific issues of industry.
  5. To review the scope of coordination and mutually modify it at any time with the concurrence of both federations.
  6. To keep all mutual deliberations and actions apolitical concentrated only to the issues of industry and economy.

The industrial fraternity from across Jammu and Kashmir has expressed satisfaction on the MOU signed by two organisations with the hope that the pact would work for the welfare and sustained development of manufacturing and service sector units in both the regions of Jammu and Kashmir.



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