KTMF meets Chief Minister Omar Abdullah; highlights traders’ issues

30 October 2024

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Srinagar, Oct 29: A delegation from the Kashmir Traders & Manufacturers Federation (KTMF), representing districts across Kashmir, met with Chief Minister Omar Abdullah at the Civil Secretariat today. Led by KTMF President Mohammad Yaseen Khan, the delegation presented a range of pressing issues affecting the business community in the region.

In a statement to Ziraat Times, KTMF highlighted significant concerns impacting trade and commerce. “On behalf of KTMF, we brought forth several urgent matters that are creating widespread distress among traders,” said Khan. “These issues have been persistent and have severely impacted both business operations and the livelihoods of countless families across Kashmir.”

Among the key topics discussed were:

1. *J&K Bank’s Borrower Practices**: KTMF expressed deep concern over what it termed “coercive actions” by J&K Bank against local borrowers. “The bank’s approach towards borrowers, especially its public intimidation tactics, is causing anxiety within the business community,” Khan stated. KTMF urged the Chief Minister to consider a One-Time Settlement (OTS) policy aligned with RBI guidelines and to promote increased lending to stimulate the local economy. Additional concerns included high interest rates and difficulties with digital payment systems and customer relations. Khan called for dedicated financial solutions to support small traders.

2. **Rent Settlements with Government Departments**: KTMF raised the issue of unresolved rental agreements with key entities, including the J&K Wakf Board, Srinagar Municipal Corporation, Srinagar Development Authority, and the Estates Department. “These delays are putting a strain on traders’ finances and obstructing their ability to operate effectively,” said Khan.

3. **Power Outages During Winter**: With winter approaching, power outages are a critical concern for the region. “The increased demand for electricity, combined with aging infrastructure, often leads to power cuts during the colder months, disrupting both daily life and business operations,” Khan noted. KTMF called for improved infrastructure, better load management, and investment in alternative energy sources, as well as an amnesty program for commercial consumers.

4. **Parking and Traffic Congestion**: KTMF highlighted the lack of adequate parking facilities, particularly in Downtown Srinagar, where historic markets and shrines are located. “The congestion is causing hardships for both traders and visitors. Designated parking spaces would help ease congestion and improve accessibility for emergency services,” Khan remarked. He also emphasized the need for a balanced approach to road widening initiatives to protect local businesses.

The Chief Minister assured the delegation that the government is committed to supporting the business community through accessible financing, streamlined policies, and investments in essential infrastructure. He also pledged to hold quarterly meetings with KTMF to address emerging issues.

Key officials present at the meeting included Deputy Chief Minister (Industries and Commerce) Nasir Aslam Wani, Chief Secretary, Additional Chief Secretary, and Principal Secretaries of the Finance, Power Development, Industries and Commerce, and Tourism Departments. MD KPDCL and other concerned officers were also in attendance.

The KTMF delegation included senior Federation members and district heads such as Qazi Tauseef, Bashir Ahmad Rather, Zahoor Ahmad Shah, Din Mohammad Mattoo, Lateef Ahmad Sofi, Firdous Ahmad Ganie, Fayaz Ahmad Bhat, Nisar Ahmad Shahdar, Sheikh Arif Kareem, Mohammad Ashraf Wani, Khursheed Ahmad Dalaal, Shabir Ahmad Naqash, Peer Intikhab, Manoj Tandon (Kupwara), Shameem Makhdoomi (Kupwara), Mohammad Iqbal Dhobi (Kulgam), Riyaz Ahmad Mantoo (Shopian), Mohammad Iqbal Khan (Anantnag), Altaf Ahmad Kar (Pulwama), Ghulam Hassan Parra (Ganderbal), Ajaz Sofi (Handwara), Sheikh Shahzad (Handwara), Riyaz Ahmad Zargar (Kishtwar), Altaf Shah (Kishtwar), Mohammad Ashraf Ganie (Sopore), Haji Mohammad Shafi Wathloo (Uri), Asif Rashid (Tangmarg), Ghulam Jeelani Bhat (Qazigund), Nasir Bashir Shah (Pattan), Firdous Ahmad Dar (Kangan), and Muzamil Arfat Wani (Char-e-Sharif).