Jammu, Dec 07, ANB: The delegation from the PHDCCI Kashmir, led by Co-Chairs Himayun Wani and Javaid Anim, today met with the Department-related Parliamentary Standing Committee on Industry.
This important meeting took place during the committee's visit to Srinagar, where they interacted with local stakeholders to discuss pressing issues in the region.
According to the Associated News Bureau, the delegation delivered a comprehensive presentation to Shri Tiruchi Siva, the Chairman of the committee, underscoring the hardships faced by entrepreneurs. During this interaction, Chairman Siva made a pivotal note regarding the relaxation of CIBIL scores for affected entrepreneurs. He instructed the banks to reach out to the Reserve Bank of India (RBI) for this necessary credit score relaxation during the specified period of CoVid and Reorganisation of J&K . Additionally, the Department-related Parliamentary Standing Committee on Industry will formally communicate with the RBI to support this initiative, addressing the urgent need for reforms that will enhance the financial viability of local businesses.
The PHDCCI also highlighted several critical issues affecting the industrial landscape in Jammu and Kashmir, including the need for an industrial policy similar to that implemented in the Northeast region. The delegation emphasized the importance of timely release of incentives and payments to Micro, Small, and Medium Enterprises (MSMEs), as well as reducing the rejection rates of Prime Minister's Employment Generation Programme (PMEGP) loans. It was also requested to Include Home Stay activity under PMEGP Scheme so that the interested entrepreneurs get necessary immediate support from the Government. Furthermore, the PHDCCI Kashmir called for enhanced ease in PMEGP cases specifically for young entrepreneurs and also Collateral free credit needs to be given under CGTMSE Scheme , advocating for measures that would enable better access to funding and resources for the next generation of business leaders. (ANB)
