KTMF(R) seeks financial package for J&K in Budget 2022-23

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Ziraat Times
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Srinagar, Jan 26: Kashmir Traders and Manufacturers Federation (R) has urged the central government to announce a special financial package in the upcoming Budget for J&K in order to revive it’s business and economy.

As per the statement issued by KTMF (R) faction said that the traders have suffered immensely in the past several decades in Kashmir and there is a need to help them by providing a special package to boost business sentiments in the region.

“The only aim to talk to media is to raise our voice for the business fraternity across the Valley which has suffered huge losses due to the situation that gripped the Valley from time to time,” they said. “In the past two decades, Kashmir alone has witnessed 3000 days of shutdown resulting in the huge losses to the business fraternity,”

They added that business in Kashmir has received another major jolt in the form of weekend lockdowns in Jammu and Kashmir.

The Valley has witnessed 3000 days of lockdown in over two decades. “Whenever the valley witnessed lockdown, the business fraternity got badly affected. Since 1999, Kashmir has witnessed 3000 days of lockdown. Despite witnessing such a situation, none of the traders here become Vijay Mallya or Nirav Modi. The Kashmiri’s trader who has borrowed money from the banks here is repaying the amount in installments and on time,” they said, adding that “We do deserve the package.”

While welcoming the special one-time settlement scheme announced by Jammu and Kashmir Bank for its NPA (non-performing asset) account holders saying it will ease the difficulties of the stressed business units.

“We demand inclusion of small traders who have taken less than Rs 20 lakh loan into the scheme. Traders of Srinagar especially small scale traders suffered financial losses from the past three years due to various reasons”, they demanded.

They further urged the administration to announce a power amnesty scheme to their establishments.

They said interest, penalty, and surcharge on power dues against them should also be waived.

Spokesperson KTMF(r), Hilal Mandoo, President Bashir Rather, and senior members Nisar Shahdar and M Altaf Dar(Rajbagh) were part of the delegation. (CNS)

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