Industrial policy needs a re-look
By: Musaib Nisar
We are all no alien to the drastic effects and consequences covid-19 has put us all in, Every single person in the world is suffering in one way or another due to this ongoing lockdown and every one of us is paying a price for the situation we still have no control over. With the announcement from WHO of the possibility of Covid-19 becoming an endemic and finding its way to stay as a part of our lives, the whole world has its eyes glued to the TV sets and to the media about what is going to be the next step of the world towards an effective solution for this soon to become endemic.
Everyone is suffering so are the industries here in the valley of Kashmir and all around the nation. The world has now seen what a 2- 3 month lockdown and they are already writhing in pain of it, due to the losses, and the threats coronavirus has posed for their livelihood. We in Kashmir have been suffering all these consequences for about 10 months now, as a result of which our industrial sector is heavily impacted with huge losses. As a unit holder in IGC Lassipora, I am talking out of my personal experience. As a young entrepreneur my words speak for all those entrepreneurs who were hopeful that their ideas of startup were going to change their lives for better. And for everyone who is in my shoes right now, going through the same losses and same frustration we need a vent. We need to speak up to and make our voices reach the ears of the authorities so that they could reform their policies as the top economists are predicting the world is going to lose all the profit it has earned approximately in last 3 or so years.
Now coming to the basics, here in Kashmir, our industries have approximately suffered 80% losses and I am not counting the small industries and business startups who went bankrupt as soon as they started to flourish. This has not only affected our economy but our employment rates, our psychological and mental well being as well, Those young aspirant entrepreneurs who were finally seeing a ray of hope for themselves in this place have long lost their hope of doing anything better. On one hand our government was planning to develop industrial sector here to provide jobs and make the unemployment situation better here, on the other hand we never actually got the opportunity to do so. Even our already set up units had to be closed, as a result of which our youth has totally given up the hopes of betterment.
In addition to that not restoring the high speed data, and even barring us from the 2G services and calling services time and again only adds salt to the wounds that Covid-19 and the lockdown have inflicted.
I hope our government will hear the voices of such youth who are suffering the consequences with no fault of theirs and take steps to review and reform the industrial policies so that we can hold onto better options.
– The writer is MD, Himaliyan Peaks Wood Industries