KNZ NEWS DESK
Ahead of the presentation of Budget for fiscal 2018-19 in the state legislature, Minister for Finance and Labour and Employment, Dr Haseeb A Drabu on Saturday held extensive deliberations with the Kashmir Inc at the Excise and Taxation Complex Srinagar.
The spokesman said in a statement, Commissioner, Commercial Taxes, Parvaiz Iqbal Khateeb, Excise Commissioner, Mohammad Javed Khan, Additional Commissioner, Commercial Taxes, Dr Shamim Ahmad Wani and other officers of the Finance Department were present during pre-budget consultations.
Representatives of Kashmir Traders and Manufacturers Federation, Kashmir Economic Alliance, Kashmir Chamber of Commerce and Industry, Federation Chambers of Industries Kashmir, PHD Chamber Kashmir Hotel and Restaurant Owners Federation and Kashmir Hotel and Restaurant Associations, Kashmir Economic Forum, Federation Chambers of Industries, All Valley Fruit Growers-cum-Dealers Union Kashmir, Transporters Unions and Office Bearers of Kashmir Press Club also participated in the discussions.
During the meetings, Dr Drabu invited suggestions from the trade leaders that could be incorporated into the upcoming budget for reviving the economy of Jammu and Kashmir which has suffered immensely due to the natural disaster of 2014 and unfavourable socio-political atmosphere last year, the spokesman said.
The Kashmir Inc urged the Finance Minister to take immediate measures keeping in view the September 2014 Floods and the 2016 situation which had a debilitating impact on the business community, especially small traders, and overall economy of the Kashmir Valley.
“Due to the situation of 2016 and the negative propaganda by New Delhi-based news channels, the trade in Kashmir, particularly the tourism sector and various other industries, have suffered badly. But we are taking corrective measures and some announcements will be made in the budget to address these issues,” Dr Drabu said.
Appreciating the role of the Finance Minister for announcing a slew of measures, including tax waivers for the business community, the trade leaders said the Goods and Services Tax regime has brought a positive change and reduced corruption while easing the system of filing returns.
