Govt committed to shore up economy: Rather

Continuing his pre-Budget discussions on the second day today, Minister for Finance, Law and Parliamentary Affairs Mr. Abdul Rahim Rather held deliberations with noted economists, academicians, transport associations and representatives of Kashmir Chamber of Commerce and Industry.
While interacting with delegations, the Minister said the government would take every stakeholder on board and workout a strategy to accommodate genuine suggestions put up by them in Budget formulation. He reiterated the commitment of the government to help vulnerable sections in coming out of the economic morass and assured all possible relief to them.
The meetings were attended by Economic Advisor to the Government, Mr. Jaleel Ahmad Khan, Commissioner/Secretary, Finance, Mr. Sudhanshu Pandey, Commissioner, Commercial Taxes, Kh. Bashir Ahmad, Commissioner, Excise, Mr. Pradeep Gupta, besides other senior officers.  
A delegation, led by veteran economist Prof. Nisar Ali, presented its viewpoints and identified various sectors of economy which require focused attention. Major issues which came under discussion included reformation of recruitment rules, tackling burgeoning unemployment problem and tapping power generation potential of the State. The delegation also raised the issue of increasing royalty over State Hydel Projects from 12 per cent to 35 per cent and sought transfer of at least two hydel projects of Uri and Salal to the State government, in lieu of the losses incurred through Indus Water Treaty.
They also suggested adequate fund allocation to meet infrastructure requirement of rural and hilly areas of Doda and Kishtwar districts. The delegation was of the opinion that Roshni Act be modified as cost-free acquisition of State land was not in the interests of the State.
The economists also favoured conducting of statistical survey of the human resource, agriculture productivity and other important sectors so that steps could be taken for their optimal utilization. 
The representatives also suggested taking up in a big way floriculture and fruit industry which needs proper incubation centres, as both the sectors have international market giving fillip to the economy of the State. Implementation of e-governance was also discussed to make administrative machinery more accountable. Establishment of more colleges, coupled with other amenities like roads and potable water was also discussed in the meeting.
Reduction of relying on loan component was also discussed which, they said, eats into the vitals of the economy.
President, Transport Association, Mr. Bashir Ahmad Mat, also raised the issue of waiving taxes levied on condemned vehicles, which the Minister assured will be looked into.
KCCI President, Dr. Mubeen Shah, during his pre-Budget interaction, proposed various measures for uplifting the economy of Kashmir which included declaring the Valley as a free economic zone. 
Referring to the huge power potential of the State, he said the government should explore possibilities of public-private partnerships so that hydro-electric power generation is maximized and used in the industrial sector. 
Dr. Shah also suggested allocation of funds for Kashmir brand - “Cashmere”, as the brand is known worldwide because of its quality of textiles and woolens. He suggested creation of a corpus fund of Rs. 20 crore to establish a test laboratory for pashmina fabric and for promoting Kashmiri products world over. He also suggested upgradation and improvement in communication network.
Upon hearing the delegations, the Minister said everything possible would be done to boost economy and restore confidence of major stakeholders in the State. He said even though the government has many problems at hand on the economic front, everything would be done to fulfill the aspiration of the people of the State. 
The Minister said that today’s meeting with different trade and other organizations was held with the objective to seek their perspective so that the same could be included in the Budget preparation.