Some hits, some misses, feels Kashmir Inc

M Aamir Khan

Tribune News Service

Srinagar, May 30

The state Budget 2016-17 drew mixed reactions from Kashmir Inc and stakeholders in the Valley’s tourism sector. Even as sops for development of industry and handicraft sectors were welcomed, leaders of business bodies said they were expecting more incentives for the tourism sector and immediate relief for traders.

“Announcements for the handicraft sector, industry and initiatives for women are welcome. During pre-Budget deliberations, we had pointed out that the handicraft sector was suffering. However, we were expecting more sops for the tourism sector,” said Kashmir Chamber of Commerce & Industry (KCCI) president Mushtaq Ahmad Wani.

He said the government should roll back increase in tax on aviation fuel as it would hike airfares and have an impact on the tourism sector. Wani said they were expecting announcement of fixed electricity charges for hotels which would have been beneficial for the tourism sector.

Kashmir Economic Alliance (KEA) chairman Mohammad Yaseen Khan said the budget was just a “jugglery” of words and figures and there was “nothing” for the business community and the common man.

He said the government had failed to announce sound measures for the horticulture sector and there was no “immediate relief” for the business community, especially those hit hard by the devastating September floods in 2014.

Even as the KCCI welcomed the debt waiver scheme for houseboats owners through the proposed one-time settlement with the J&K Bank and State Bank of India, former chairman of Houseboat Owners’ Association (HBOA) MY Chapri was not impressed. Chapri, who now heads another faction of the KEA, said several houseboat owners were doing “no business” and they were not in a position to pay back the loans. Former Kashmir Hotel & Restaurant Owners Federation president Faiz Bakshi said the debt waiver scheme for houseboats owners was welcome but there was no announcement.