KCCI seeks L-G Sinha’s intervention for Centre’s relief package to traders
The Kashmir Chamber of Commerce and Industry (KCCI) on Friday informed Jammu and Kashmir Lieutenant Governor Manoj Sinha that Pahalgam tragedy had not only shaken public confidence but has also disrupted the revenue streams of thousands of enterprises, many of which were now struggling to meet existing loan obligations.
A Kashmir Chamber of Commerce and Industry delegation, led by its president Javid Ahmad Tenga had called upon L-G Sinha at the Raj Bhawan here.
The meeting was held to discuss the fallout of Pahalgam attack on April 22, which has had a severe and far-reaching impact on trade, commerce, industry, tourism, transport, start-ups, handicrafts, private sector employees, daily wagers and allied sectors, said a KCCI statement.
“The business community had made significant capital investments in anticipation of sustained economic growth. The Pahalgam tragedy has not only shaken public confidence but also disrupted the revenue streams of thousands of enterprises, many of which are now struggling to meet existing loan obligations,” said Tenga.
“The situation is compounded by reduced cash flows, near-zero tourist footfall and a general downturn in business activity,” he added.
KCCI said the plight of thousands of transporters who have taken huge bank loans was discussed at the meeting. The business body impressed upon the L-G the need for tourism promotion at the earliest. It sought Sinha’s intervention for a relief package from the Union government on the analogy of the 2014 floods and Covid-19, with a focus on government and banking interventions.
The Lieutenant Governor listened attentively to all the points raised and assured the delegation that the administration remains sensitive to the concerns of the public.
“He acknowledged the challenges posed by the recent events and affirmed that the suggestions would be reviewed by the government. He assured of his support in the decisions of the Government to provide relief to the affected,” the KCCI said.
“The L-G stressed on the role of economic sectors which had performed well during the past few years with huge employment potential to rise to the occasion and sustain employment,” it added.
