States » NorthPosted at: Oct 6 2026 8:15PM


J&K Deputy CM opposes shutting down UT's PSUs, says looking at ways to revive them; new industrial policy set to be unveiled

Srinagar, Oct 6 (UNI) Jammu and Kashmir Deputy Chief Minister Surinder Chaudhary on Tuesday opposed any move to shut down public sector undertakings (PSUs) in the union Territory, saying the institutions were established with great difficulty and constitute part of J&K’s heritage.
“PSUs were built with great difficulty; they were established during the time of Sher-e-Kashmir Sheikh Mohammad Abdullah Sahib. They are our heritage. Why should they be shut down?” Chaudhary said while responding to questions from reporters on the sidelines of a function at Government Silk Weaving Factory, Rajbagh.
He said the government would instead examine the reasons behind the decline of PSUs and fix accountability wherever required.
“How did these PSUs go down? Who did it? The officers who put them down, their accountability should be fixed. The leaders who put them down, their accountability should be fixed,” he said.
Chaudhary maintained that there was no policy under the Omar Abdullah-led government to shut down PSUs, adding that committees had been constituted to examine the functioning of some institutions and explore ways to revive them.
“If they can run, how can they run and how can it be done, we are looking for ways,” he said, adding that the government was interested in finding solutions rather than simply closing down the undertakings.
Drawing an analogy with the products manufactured and showcased by J&K’s traditional institutions, the Deputy Chief Minister said the government needed to explore ways of promoting local products and making them competitive.
He also referred to the Government Silk Weaving Factory, saying the quality of its products was comparable with that of major brands, but such products needed better marketing and access to larger markets.
On the CAG report concerning PSUs, Chaudhary said the government would examine its findings and hold discussions before arriving at any conclusion.
“The CAG’s report has come. We will see what is there and what is not. There will be a discussion and a debate, and after that some conclusion will be drawn,” he said.
The Deputy Chief Minister was speaking after laying the foundation stone for the construction of a Café House and renovation of the existing guesthouse at the Government Silk Weaving Factory, Rajbagh, a unit of Jammu and Kashmir Industries Limited.
Deputy CM Chaudhary announced that J&K government’s new industrial policy is at the final stage and would seek to address the bottlenecks and shortcomings identified in the previous policy.
Chaudhary said the new policy was being framed after taking into consideration concerns raised by industrialists and other stakeholders regarding the previous industrial policy.
“The government is bringing in a new industry policy and it is at the final stage. If people were not happy with the previous industry policy, that is why we are bringing in a new industry policy,” he said.
He said the government would ensure that any discrimination, lapses or instances of “pick and choose” in the implementation of the previous policy were addressed.
The Deputy Chief Minister said the Industries Department had worked extensively on the new policy and had taken into account the concerns and suggestions put forward by industrialists.
“My department has worked very hard. The officers have worked very hard and they have also listened to what you said and what the industrialists said, keeping that in mind,” he said.
He said the new policy was being prepared under the direction of Chief Minister Omar Abdullah and would be brought before the public once finalised.
“This new industry policy is being made and it is at the final stage. It will come in front of you and whatever happened in the past, it will not happen in the future. This is what we are trying to do,” Chaudhary said.
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