Special financial relief, not aid, needed for business sectors today: J&K Hoteliers Club

Srinagar: J&K Hoteliers Club (JKHC) has urged Lieutenant Governor administration to announce a special financial package for the business community from J&K who have been suffering for the past many years for various reasons.

In a statement here, JKHC said the LG administration announced a relief fund for some sections of the tourism sector which should be further enhanced and extended to other business sectors also.

He said all sectors of the business were affected by the pandemic which has caused immense strain in the business community.

“A special financial package is the need of the hour. The survival of the business community is very important as they employ large sections of the society and help improve the economy with various business activities,” said JKHC.

A club spokesperson said if business activities are not supported it would only lead to slow growth of the economy and a lot of difficulties for the businessmen.

“We don’t want any aid from the government but a financial package which would kick start the business sectors,” said JKHC.

The J&KHC Chairman said banks should be asked to not take interest on the loan amounts till the time the economy revives again.

“Fresh capital infusion on low interest rates, extended moratorium, tax holidays, amnesty on government user charges including electricity, water charges should be immediately announced,” it said.
He said small-time businessmen including traders, hawkers, vendors, transporters, growers, should also be given priority who are struggling to survive under the current lockdown period.

“There should be special soft loan packages for small time business sectors so that they can start their business afresh after the lockdown is lifted gradually,” he said.

Secretary General of the JKHC, Tariq Rashid Ghani, also urged the LG administration to announce a 5-year tax holiday, amnesty on government use charges, moratorium on existing loans, fresh infusion of the capital to the interested business houses with low rate of interest.

“It is the responsibility of the government to help the business community with trade-friendly policies so that an economy which is in bad shape can receive a big boost,” he said.