FOIJ Urges CM, Dy CM and Finance Department to Expedite Funds of Turnover Incentives to Prevent Industrial Collapse in J&K

Jammu, 20-08-2025: A meeting of Office Bearers of FOIJ was held today under the Chairmanship of Mr. Virendra Jain and attended by its Co-Chairmen. Lalit Mahajan, Sh. Ajit Bawa, Sh. Jatinder Aul, Sh. S.C. Dutta, Sh. Viraaj Malhotra, Secretary General, and Sh. Sanjay Langar, Convenor, addresses the problems being faced by the industrial sector of J&K due to non-release of announced/promised turnover incentives.

The Federation of Industries, Jammu,  urged the government to expedite the release of pending Turnover Incentives for F.Y. 2021-22 and 2022-23. Despite repeated efforts, only 11% to 14%  of the claims filed for the F.Y. 2021-22 incentives have been released, leaving a significant amount pending and crippling the industry’s growth. The delayed release of funds have forced unit holders to bear the brunt, impacting their competitiveness and financial stability. “Justice Delayed is Justice Denied,” Office Bearers of FOIJ, highlighting the urgent need for the Principal Secretary  Finance to intervene.

The industry has already passed on the benefits to the market, maintaining a level playing field. However, the pending claims have put a strain on resources, threatening the survival of units. We urge the Principal Secretary Finance to release the balance claims of F.Y. 2021-22 and full claims of F.Y. 2022-23 without any further delay, added Mr. Virendra Jain.

The industry is a significant contributor to the economy, and the timely release of incentives would provide much-needed relief. We request the Principal Secretary of Finance to take immediate action to avoid any further damage to the industry.

FOIJ very humbly requests the Hon’ble Chief Minister, Hon’ble Deputy Chief Minister, Principal Secretary, Finance, Commissioner Secretary, Industries & Commerce to take this matter urgently and the funds be released without any further delay so as to save the industry of J&K from collapse.