CSI reviews impact of West Asia crises on J&K industry

Jammu and Kashmir’s Department of Industries and Commerce convened a high-level meeting with representatives of multiple industrial and trade associations on Saturday to assess the impact of the ongoing West Asia crisis in the Union Territory.

The meeting was chaired by Commissioner Secretary, Industries and Commerce, Vikramjit Singh.

Director, Industries and Commerce, Jammu, Dr Arun Manhas, said the meeting was aimed at evaluating the implications of the evolving energy situation and its impact on industrial, trade and service sector activities in Jammu and Kashmir. The meeting sought suggestions on mitigating emerging challenges.

Addressing the participants, Singh said there is a temporary mismatch in supply and demand of energy due to the unfolding crisis. He said that the Central government is making efforts to tap alternative energy sources to bridge the gap.

Singh informed that Deputy Commissioners have been tasked with coordinating with Oil Marketing Companies (OMCs), and industrial units facing specific issues may approach their respective Deputy Commissioners or designated District Nodal Officers.

Singh added that directions have been issued to release pending payments to MSMEs on priority. He cautioned industrial units against rumour-mongering and black marketing during the crisis, warning that strict action would be taken against violators.

On transportation concerns raised by participants, Singh assured that the matter would be taken up with the Railways to facilitate the movement of fruits, horticulture produce and other finished goods from Union territory.

He also said that issues related to credit and capital assistance for industrial units would be pursued through the Union Territory Level Bankers’ Committee (UTLBC).