SRINAGAR: The Jammu and Kashmir Government is finalising a new industrial policy aimed at addressing shortcomings in the previous framework and ensuring that the benefits of industrial development reach people and businesses across the Union Territory, Deputy Chief Minister Surinder Choudhary said on Tuesday.
Speaking to reporters, Choudhary said the new policy was in its final stages and was being formulated after considering concerns raised by the business community and other stakeholders.
He said the government was working to address instances of discrimination and the alleged “pick-and-choose” approach followed under the previous industrial policy.
“Our effort now is to plug those bottlenecks and lapses, open things up, and ensure that people genuinely benefit from the industrial policy,” Choudhary said.
On the ₹28,400-crore industrial package announced in 2021, the Deputy Chief Minister said that had it been implemented effectively, the business community may not have been raising similar concerns today.
Choudhary said the Industries and Commerce Department was consulting stakeholders while framing the new policy and assured that shortcomings of the past would not be repeated.
“What happened in the past will not be repeated in the future. That is our endeavour,” he said.
On the possibility of shutting down loss-making public sector undertakings (PSUs), Choudhary opposed such a move, saying the government should instead identify the reasons behind their poor performance and fix accountability.
He said several PSUs were established with considerable effort during the earlier years of Jammu and Kashmir and described them as part of the region’s institutional heritage.
Choudhary stressed that officers and those responsible for decisions leading to losses must be held accountable, while corrective measures should be taken to revive underperforming enterprises rather than resorting to closure.
“The trend of shutting things down that started in Jammu and Kashmir over the past few years should not continue,” he said.
