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SAC reviews preparations for J&K Investment Summit

SRINAGAR, SEPTEMBER 19: The State Administrative Council (SAC) which met under the chairmanship of Governor, Satya Pal Malik reviewed the preparedness for holding the J&K Investor Summit which was earlier scheduled from 12-14 October 2019.

SAC after taking note of the level of preparedness decided that the J&K Investor Summit be rescheduled to 2020 in consultation with the Union Government so as to give the Industries and Commerce Department reasonable time for making necessary preparations to secure robust participation of the investors in the summit.

SAC decided that the new dates for holding the Investor Summit will be finalized in consultation with the Government of India keeping in view the policy work completion, logistics including schedule of road shows, climatic conditions, the schedule of Parliament for both Winter Session and the Budget Session, major National & International events and major festivals etc.

The decision has also been taken to allow completion of all policy revisions by the State and the Central Government, further deliberations with prospective investors and other logistics related to the event.

A detailed presentation on the preparedness for the summit was made before the SAC by Principal Secretary, Industries & Commerce Department. It was informed that the initial preparatory work has been completed.

SAC was also informed that schedule for organizing the road shows across major cities has been drawn up. Each road show will be organized as a separate event with reasonable gap in between to give the Industries & Department more time to plan, interact and follow-up with the possible investors to secure their participation. It was accordingly decided that the schedule of the road shows will be reworked.

SAC directed the Industries & Commerce to continue the preparation work in full swing and take all required measures to make the event a success. The SAC also directed that consultation with various Ministries of the Union Government be completed at the earliest possible for policy framework revision. It also directed the Department to revisit all existing policies and fill the policy gaps pertaining to various sectors and complete the same in next one month.

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