Valid for 10 years, the policy aims to transform the system from regulator to facilitator and from performer to enabler
NN Vohra (Photo: SNS/File)
In an effort to build a strong, responsive and vibrant business environment in Jammu and Kashmir where the economy has been hit due to terrorism for the past nearly 30 years, the State Administrative Council (SAC) headed by Governor NN Vohra has approved the first ever J-K Trade & Export Policy that envisages to enhance the domestic trade volume by five times in the next 10 years.
An official spokesman said on Thursday that the policy, valid for a period of 10 years between 2018-28, was approved in the meeting of the SAC in Srinagar on Wednesday evening.
It aims to transform the system from regulator to facilitator and from performer to enabler; to provide employment opportunities to educated unemployed and skilled youth in export trading of goods and services and to encourage, promote and facilitate more investment in enterprises.
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The policy reflects the dynamics of Jammu and Kashmir state as an agrarian economy in transition towards a market-driven one. It aims to transform the state economy from a supply constrained one into a competitive export-led entity responsive to enhanced domestic integration and wider participation in national and global economy in tune with the national policies.
It will create an enabling eco-system to ensure effective participation in the designed framework-based trading system that has emerged at the national and international levels and help in seizing opportunities available in the global liberalised market.
In order to provide immediate relief to transporters and vehicle owners who are plying commercial passenger vehicles and are providing transportation facilities to the public, the SAC also approved revision in the passenger fare of all commercial passenger vehicles, keeping in view sharp rise in the fuel prices and other operational and maintenance cost.
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