Jammu, Feb 15 (PTI) Highlighting the significant role of industries in the balanced and sustainable growth of economy, Jammu and Kashmir Chief Minister Omar Abdullah today affirmed his government's continued support to the business community in the state. "There is a significant role of industry in the balanced and sustainable growth of economy as well as employment generation. We will continued support to the industries in the state," Omar told a gathering of prominent industrialists and officials of Industries and Commerce department here. He said that his government is in constant touch with Finance Minister Pranab Mukherjee and Commerce and Industry Minister Anand Sharma for seeking extension of the existing industrial package, especially tax incentives, for another 10 years to enable industrialists stabilise more. Omar said his government endeavours to provide a conducive atmosphere for business in the state, but entrepreneurs also need to generate confidence among the people before venturing out. "The growth of industries in the state is all the more important in view of unemployment, which is the biggest problem," Omar said, adding that industrialisation is the key to employment generation. "Recently a review on the issues concerning the industrial fraternity was held at state Industrial Advisory Committee, besides pre-budget discussions with the State Finance Minister," Omar added. Responding to the demand about relief to the industry on power supply front, Omar said in view of the increasing losses in the sector, the state cannot afford to freeze power tariff for them. He, however, assured that all possibilities would be explored to chalk out a five-year power schedule for the business community.
