Mehbooba orders pushing infra creation at LoC trade points
BY M Post Bureau29 April 2016 12:41 AM GMT
M Post Bureau29 April 2016 12:41 AM GMT
J&K Chief Minister Mehbooba Mufti on Thursday ordered to fast-track the creation of additional infrastructure at trading points along the Line of Control so that the trade could be shifted from barter to banking system.
With the Reserve Bank of India’s (RBI) nod to shift from barter to banking system for cross-LoC trade, the Chief Minister has ordered fast-tracking of the creation of additional infrastructure at Salamabad in Uri and Chakan da Bagh in Poonch – the two trading and travel points across the LoC, an official spokesman said.
Industries and Commerce (I&C) Department Secretary Shailendra Kumar said work would commence in May and full-body scanners will be installed at both the trading points within the next 12 to 18 months. On the issue of rehabilitation of sick units, the CM was informed that not much headway was made as the component of interest subvention was not incorporated in the soft loan scheme.
The I&C Secretary said an Assets Reconstruction Company has been proposed with a corpus of Rs 15 crore which can target revival of 50 per cent of sick units. About the status of upcoming Leather Processing Centre at IGC Lassipora, he said after the signing of an MoU, detailed project reports have been framed.
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