Jammu:: Jammu and Kashmir chief minister Mehbooba Mufti on Thursday ordered to fast track the creation of additional infrastructure at the trading points along the Line of Control so that the trade could be shifted from barter to banking system.
With 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 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 assured that work will commence in May and full-body scanners will be installed at both the trading points within next 12 to 18 months. On the issue of rehabilitation of sick units, the chief minister was informed that not much headway has been made as the component of interest subvention was not incorporated in the soft loan scheme.
I&C secretary said an assets reconstruction company has been proposed with a corpus of Rs15 crore which can target revival of 50% of sick units.
On being asked about the status of upcoming Leather Processing Centre at IGC Lassipora, I&C secretary said that after signing of Memorandum of Understanding, detailed project reports have been framed and the work on the common facility centre is presently going on.
The centre, he said, will become functional in the next nine months.
Inviting suggestions on promoting industrial sector in Ladakh, the chief minister advised the department to focus on handloom, handicrafts and food precessing sectors which are specific to the region. PTI