BUSINESS

Even as domestic LPG prices have been on the upsurge, burdening the common man, an interesting fact to note is that cooking gas rates have been revised an astounding 59 times in the last five years. The latest hike was made on March 01, when the prices of LPG cylinders reached 1219 rupees in Srinagar with a jump of 50 rupees from 1169 rupees. According to official data of the Petroleum Ministry, between April 1, 2017 and March 06, 2023 LPG prices rose by 45 per cent through 59 upward revisions in New Delhi. An LPG cylinder was priced at Rs 835 in February 2021, and by March 06, 2023, the cost gone upto rupees 1219 per cylinder. The same LPG cylinder was priced at Rs 834 in July 2021. By July 2022, it`s price surged 26 per cent to touch Rs 1,053.

The Director of Agriculture Kashmir, Chowdhury Mohammad Iqbal today inaugurated a district-level orientation cum training programme under holistic development of agriculture on Technological intervention for fish seed and trout production in Jammu Kashmir. While addressing the participants of the training programme, the Director of Agriculture highlighted the potential for fish and fisheries development in the region. He said for the development of the fisheries sector the admin has approved a multi-crore plan to boost fish production. He said the project is aimed to increase fish production, and productivity and to attract more and more educated youth towards this sector. Director of Agriculture asked the officers of the allied departments to work in coordination so that the desired res...

Jindal steel industries has laid foundation stone of its first investment project in Jammu Kashmir, NDTV reported. A ₹ 150-crore steel processing unit being set up in Pulwama district of south Kashmir is the first such project set up after the abrogation of Article 370 in August 2019. As per the report, Sajjan Jindal, chairman of JSW group, tweeted photos of a prayer ceremony of the foundation stone at Lassipora Industrial Estate in Pulwama district. "Proud to announce that we have laid the foundation stone for our new steel processing unit in Pulwama - the heart of Kashmir. Contributing to the growth of the beautiful state of Jammu and Kashmir," Mr Jindal tweeted. The J-K administration had granted 70 Kanal (8.75 acre) land to JSW Steel. In December, the government had told...

As the mercury in Kashmir Valley continues to dip, the traditional fire pots known as Kangris are in high demand in Kashmir's capital city Srinagar. People can be seen buying Kangris in some congested markets of Srinagar including Batamaloo. Even, in the flea market of Srinagar, kangris were put on sale. This winter people associated with this trade witnessed a brisk business. “Scores of people are earning their livelihood from this business,” said a Kangri seller in Srinagar who hails from Ganderbal. Due to pesky power cuts which stop people of Srinagar from using electric appliances, this Kangri plays an important role as it is easy to carry with fire inside it and keeps one warm. “I have been doing this business since childhood. I have three varieties of colorful Kangris for...

A delegation of garment manufacturers from Ludhiana city will soon meet LG Manoj Sinha to hold talks about setting up industrial projects in Jammu Kashmir. A report by Times of India, quoting businessmen, said, "In view of incentives provided by the Centre to set up industries in Jammu Kashmir, the cost of production will be very low as compared to Punjab." Harish Dua, president of Knitwear and Apparel Exporters Organisation, said, "Our delegation is soon going to meet the LG and senior officials of industries and commerce department of J&K to hold discussions about setting up Jammu Kashmir. J-K is offering unmatched incentives to the industry, including 30% state capital investment subsidy, up to 5% interest subsidy on working capital, reimbursement and freight refund scheme." ...

The New Land Grant Rules are going to ‘badly’ hit the big as well as the small fish involved in business activities in Jammu Kashmir. This is what the business community is feeling. Jammu and Kashmir admin recently notified Land Grant Rules-2022 asking the owners of the properties on lease land to evacuate immediately. In Kashmir alone, hotels, shops, malls, and other structures have sprung up on over 17,000 Kanals of lease land. “Their eviction means chaos and certainly it will become a major source of unemployment in coming days,” said a top businessman from Kashmir Valley. “This move is being termed by the government in the interest of the common masses, but we have to understand that business in Kashmir is already gasping for survival and even top-notch local businessmen have ...

The Kashmir Chamber of Commerce & Industry (Inc) held an interactive meeting with various Trade Associations, Hoteliers, Restaurant Owners and other stakeholders on their request regarding the new Land Grant Rules 2022, read a statement of KCCI. According to a statement, the delegation expressed their anguish regarding the order and spoke about its adverse impact on the livelihood and employability of the people in J&K. The statement reads president KCC&I, Sheikh Ashiq Ahmad assured the delegation that their concerns will be taken up with the Government at the highest level. Moreover, he urges the LG and the Chief Secretary to look into the matter so that livelihood of the people would not get affected.

The Kashmir Chamber of Commerce and Industry (KCCI) urged the Lieutenant Governor Manoj Sinha to announce amnesty for power tariffs in favour of Commercial and Industrial Consumers. In a statement issued, President, Sheikh Ashiq Ahmad sought the attention of Manoj Sinha, Lieutenant Governor, and Arun Kumar Mehta, Chief Secretary, towards the industrial sector of Jammu and Kashmir, due to the financial crunch a number of units have not availed the previous Power Amnesty Scheme. He requested the authorities not to disconnect the power supplies forcing the industrialists/ commercial establishments to close down their units. “Recently we met Principal Secretary, Power Development Department , J&K and we are waiting for the outcome of our suggestions given in the meeting and we req...

A number of new industrial estates are being established in Jammu Kashmir, officials said on Sunday as chief secretary A K Mehta reviewed the status for the grant of permission with respect to the establishment of industries under a single-window system at a meeting here. The motive behind the single window system is to enhance the efficiency and save the time of prospective industrial unit holders, the officials said. They said hundreds of applications have been received for the establishment of different industrial units which would provide employment opportunities to thousands of youth. It was revealed that different utilities like the establishment of receiving stations, providing of water connections and laying of roads are under process and at different stages of completion, t...

At least 79 shopkeepers allotted shops at Sangarmal Complex Srinagar owe more than Rs 2 Crore rent to Srinagar Development Authority. The information as per news agency Kashmir News Trust was revealed by Srinagar Development Authority in response to an application filed under the Right to Information Act by social activist Mir Mubashir Shujah. The rent pending from the occupants of Sangarmal Complex Srinagar is till August 2022 while SDA claims that it has taken several steps to recover the outstanding from these shopkeepers. As per the official document, 79 occupants owe Rs 2,83,81,217 to Srinagar Development Authority. SDA revealed that it has initiated proceedings for recovery of outstanding rent by the issuance of notices, however, the allottees have agitated the matter bef...