Jammua and Kashmir govt to draft policy to attract investors | india | Hindustan Times
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Jammua and Kashmir govt to draft policy to attract investors

The Jammu and Kashmir government is formulating a policy on public-private partnership (PPP) to fillip industrial growth and public service sector in the state. A state Cabinet sub-committee has been entrusted with the job to formulate the policy.

india Updated: May 11, 2010 20:59 IST
HT Correspondent

The Jammu and Kashmir government is formulating a policy on public-private partnership (PPP) to fillip industrial growth and public service sector in the state. A state Cabinet sub-committee has been entrusted with the job to formulate the policy.

"The soil of the state is fertile enough to properly germinate PPP modules and ensure their growth and economic viability," said Chief Minister Omar Abdullah at a conference in Srinagar on Monday evening.

Abdullah asked the private players in trade and business to play active role in giving fillip to the efforts of the government for encouraging PPP. "The task cannot be left only for Government to accomplish. You have to play your role effectively to break the ice in evolving a strategy to attract private investors to invest in joint ventures," said the Chief Minister.

The state government has constituted a Cabinet Sub-Committee to formulate a sound and effective PPP policy so that investors from outside the State are attracted to be part of the joint ventures between local private business players and the government.

"In my opinion before looking for mega projects we should focus on starting smaller and medium ventures," said Abdullah.

He said the stray incidents of hartals and disturbances do take place everywhere in the world "but when same happens in Jammu and Kashmir these are magnified too larger than the factual position."

The Chief Minister said the society as a whole and the locals in industry and business have to join with the Government to create industrial temperament in the state, especially in Kashmir Valley and remove the doubts from the minds of outside investors regarding investing in Jammu and Kashmir.

The government is planning to prepare PPP modules for joint ventures, where addressing public requirements in the sectors of health, education and sanitation will be factored in the strategy.

"We should prepare a basket of projects detailing all aspects of finances, economic viability and public benefit," he added.