Maintaining that the economy of Jammu and Kashmir has suffered significant losses in recent years, business leaders from both Kashmir and Jammu divisions on Wednesday said that though they cannot afford another lockdown but given the COVID-19 situation ‘human life is more important as compared to business.’
The Jammu and Kashmir government has ordered the closure of 50 percent market strength due to the steep rise in COVID-19 cases as a measure to contain the further spread.
Talking to news agency Kashmir News Observer (KNO), Jammu Chamber of Commerce and Industry (JCCI) president Arun Gupta said that “We are very weak economically but what matters is the safeguard of human life during the pandemic.”
“We have seen subsequent lockdown back in 2019 and 2020 and the situation has come back to the same,” Gupta said.
Cautioning that the situation is grim, the JCCI President said that “We can’t afford a lockdown but due to this virus we will have to for the safety of people.”
Kashmir Chamber of Commerce & Industry (KCCI), Sheikh Ashiq said that the lockdowns have impacted the economy by large but at this time safety is more important.
He maintained that the government has to look at all the traders since the bank will demand monthly interest rather than that of 15 days (50 % market strength) while the economy has already taken a back seat two years back.
Kashmir Traders and Manufacturers Federation (KTMF), President Yaseen Khan said it is tough for traders to afford another lockdown since the community has suffered a lot in last year’s lockdown but given the intensity of this deadly virus saving the life is more important.
“There is no other solution to this pandemic other than lockdown to contain the spread,” he said.
He said that as compared to the past year’s it seems that the people are out of money and that is why the business community is moving backward after each passing day. —(KNO)