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Govt to provide margin of loan for revival of sick industrial units in J&K

Last Updated on October 22, 2021 at 4:41 pm

For reviving the industrial sick units in Jammu and Kashmir a major comprehensive scheme has been rolled out.

The Industries and Commerce department has announced a slew of measures including grant of 30 percent margin of the soft loan to these units.

An order in this regard was issued according to which the margin money of 30 percent shall be released once the soft loan is approved in favour of sick industrial unit by the Jammu and Kashmir Bank Ltd on the basis of recommendation of Industries & Commerce Department.

Officials said that the 30 percent margin money will bring a huge relief to the industrialists and a unit holder can rebuild the basic infrastructure and make strategies for the future of running their business. Officials further added that the government has more such plans to provide financial assistance to the existing units apart from establishing new industrial estates and parks in the union territory.