KCCI team meets LG Sinha, seeks relief for business sector after Pahalgam attack

SRINAGAR: In the wake of the recent terror attack in Pahalgam on April 22, a senior delegation of the Kashmir Chamber of Commerce and Industry (KCCI), led by its President Javid Ahmad Tenga, met with the  Lieutenant Governor of Jammu & Kashmir, Manoj Sinha, at Raj Bhawan in Srinagar today to press for urgent economic relief measures.

The KCCI delegation, comprising Senior Vice President Ashiq Hussain Shangloo, Junior Vice President Fayaz Ahmad Punjabi, Secretary General Faiz Ahmad Bakshi, Treasurer Zubair Mahajan, and Executive Committee Member Mohammad Ibrahim Siah, conveyed the severe economic fallout of the Pahalgam tragedy across multiple sectors including tourism, trade, industry, transport, handicrafts, start-ups, and the informal sector.

President Tenga highlighted that businesses had made substantial capital investments with expectations of sustained economic growth. “The Pahalgam attack has not only dented public confidence but has also dried up revenue streams, impacted tourist arrivals, and left many enterprises—especially transporters with bank loans—struggling to stay afloat,” he said.

The KCCI delegation submitted a detailed memorandum to the Lieutenant Governor, calling for a comprehensive relief package from the Central Government, modeled on the assistance provided during the 2014 floods and the Covid-19 pandemic. The key demands included:

1. Interest subvention scheme

2. One-time loan moratorium with account classification protection

3. Introduction of a Guaranteed Emergency Credit Line (GECL)

4. Soft loan facility for non-loanee enterprises

5. Waiver of various taxes, including transport-related levies

6. Power amnesty for commercial consumers

7. Release of pending payments to contractors

8. Aggressive tourism promotion

9. Extension in J&K Bank’s One-Time Settlement (OTS) scheme and introduction of a new scheme in line with MSME guidelines

The Lieutenant Governor listened attentively and acknowledged the concerns raised by the business community. He assured the delegation of the administration’s sensitivity to the economic challenges and promised to review the suggestions submitted.

“The LG appreciated the role played by key economic sectors in generating employment over the past few years and emphasized the need for these sectors to rise to the occasion and help sustain jobs in these difficult times,” a KCCI statement said.

The Chamber expressed gratitude to LG Sinha for the audience and his assurance of support, reiterating its commitment to work in partnership with the government to revive and strengthen the economy of Jammu & Kashmir.