J&K Govt preparing new industrial policy

The deputy chief minister said the government’s efforts are to undo any discrimination that occurred under the previous industrial policy, or where a pick-and-choose system was practised. “Our effort now is to plug those bottlenecks and lapses, open things up, and ensure that people genuinely benefit from the industrial policy,” he said.

On the Rs 28,400-crore industrial package announced in 2021, Chaudhary said the business fraternity in Jammu and Kashmir would not be dissatisfied if it had been implemented properly.

Chaudhary said the Industries and Commerce department is working very hard to incorporate voices from all stakeholders in the new industrial policy. “What happened in the past will not be repeated in the future. That is our endeavour,” he added.

Asked about the possibility of shutting down sick PSUs, the deputy chief minister said it was not the way to deal with the problem.

“By that logic, should the whole of India be shut down then? Tomorrow, if India incurs a loss, will you shut down India? Or if Jammu and Kashmir incurs a loss, if a financial crunch occurs, will you shut down Jammu and Kashmir?

“There are always ups and downs. PSUs were built with great difficulty; they were established during the time of Sher-e-Kashmir Sheikh Mohammad Abdullah Sahib. They are our heritage. Why should they be shut down?” he asked.

Chaudhary said there was a need to find the causes for the underperforming PSUs and how they incurred losses.

“The accountability of the officers who drove them into losses must be fixed. The people under whose leadership they went into losses must be held accountable. Therefore, this trend of shutting things down that started in Jammu and Kashmir over the past few years should not continue,” he said.