Industries on the verge of shutting down in Jammu

Jammu, Feb 15 (ANI): Many industries in Jammu are on the verge of shutting down due to the modification of industrial economic package by the Jammu and Kashmir Government.

It has caused a serious threat to the economic development of the State.

More than 100 factories have already been shut down in Jammu, as they did not receive enough subsidies from the declared and modified packages.

These developments have posed a serious threat and raised the unemployment in the state.

The militancy in the State has also prompted industrialists to divert to neighbouring Uttarakhand and Himachal Pradesh regions.

Steel industrialist Puneet Agarwal said, "In March the package given to us had been withdrawn by the State Government. They modified it but it's called clear withdrawal. The industries, which were about to set up, have stopped all their plans. The economic package of Himachal Pradesh has not been changed. This is a clear betrayal by the government."

Another industrialist Sarju Mittal feels that the economic package allotted in 2002 should have been continued till 2012 but modifying it in 2008 has led to alienation of industries in the region.

"The package which was given to Jammu and Kashmir should be revived. Same package given to Himachal and Uttaranchal has not been withdrawn. Now industries have diverted their bases to Himachal and some to Uttaranchal," Mittal said.

Amidst all this anticipation, the new Omar Abdullah government is yet to formulate a package for progressive economy of the State. (ANI)