Ziraat Times News Desk
Srinagar: In the wake of the tragic Pahalgam attack on April 22, a high-level delegation of the Kashmir Chamber of Commerce and Industry (KCCI) met with Chief Minister Omar Abdullah at the Civil Secretariat today to present a comprehensive economic revival plan aimed at stabilizing the region’s economy and supporting affected sectors.
The KCCI delegation was led by its President, Javid Ahmad Tenga, and included Senior Vice President Ashiq Hussain Shangloo, Junior Vice President Fayaz Ahmad Punjabi, Secretary General Faiz Ahmad Bakshi, Treasurer Zubair Mahajan, past presidents, and members of the executive committee. Senior government officials present included Chief Secretary Atal Dulloo, Additional Chief Secretary Dheeraj Gupta, Principal Secretary (Agriculture and Finance) Shailendra Kumar, Commissioner Secretary (Industries and Commerce) Vikramjit Singh, Commissioner Secretary (Youth Services and Sports) Sarmad Hafeez, Director Tourism Kashmir Raja Yaqoub, among others.
The delegation submitted a detailed two-part memorandum focusing on urgent stabilization and long-term revival of Kashmir’s economy, severely affected by the recent security incident and its aftermath.
Chief Minister Omar Abdullah expressed deep concern over the economic hardships caused by the attack and acknowledged the KCCI’s recommendations. “The tragic events of April 22 have deeply impacted Kashmir’s economic fabric. The government is committed to formulating a dedicated economic relief package, tailored specifically to address the consequences of this incident, and will present the same to the Central Government,” he said.
The Chief Minister particularly emphasized the plight of daily wagers, small tourism operators, and transporters who have suffered due to the disruption in economic activities. He assured the delegation that a tourism promotion campaign would soon be launched, which he would personally lead, and said the government is reviewing restrictions on select tourist destinations.
The economic revival proposal submitted by the KCCI includes:
Urgent Economic Stabilization Measures
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A 5% interest subvention scheme on all business loans.
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A one-time loan repayment moratorium and protection against NPA classification.
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A collateral-free working capital line with a one-year moratorium and 36-month repayment window.
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Temporary relief from municipal, transport, and property taxes in affected zones.
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Introduction of low-interest, collateral-free loans for enterprises without prior formal borrowings.
Sector-Specific Proposals
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Tourism: Reopening of tourist spots, LTC incentives for government employees, streamlined licensing, and resolution of pending hotel lease cases.
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Horticulture & Agriculture: Expansion of high-density apple and other fruit plantations, pesticide quality control, and crop insurance for high-value crops.
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Handicrafts & Exports: GST reduction on handmade items to 5%, revival of handicrafts expos, and air freight subsidies.
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Power Sector: Amnesty scheme for commercial consumers.
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Industrial Development: Restoration of incentive schemes like NCSS, establishment of modern industrial estates, and an MSME-compliant one-time settlement (OTS) for NPAs.
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Youth Empowerment: Construction of playgrounds, curbing drug abuse through youth programs, and protecting educational institutions from non-educational commercial use.
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Environmental Conservation: Allocation of adequate funds for the revival and protection of water bodies and wetlands.
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General Trade: Addressing the lack of warehousing infrastructure.
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Education Sector: Support for private schools facing NOC, land lease, and affiliation issues.
Kashmir economy means ?