CCIK appeals to PM for Kashmir centric financial assistance for economic growth

Says Kashmir economic sectors were hit by repeated lockdowns since 2019

Srinagar, April 23

Chamber of Commerce and Industry Kashmir (CCIK) has appealed to the Prime Minister Narindar Singh Modi for announcing comprehensive package for Kashmir which has been hit since 2019.
In a statement, CCIK President Tariq Rashid Ghani said, the business sectors in Kashmir have been suffering since 2019 and have just started to revive as the pendamic has receded.
Ghani appealed for captial infusion to economic sectors of the Valley by providing the cash assistance to business units for their revival and development.

He said many business units have huge financial burdens due to repeated lockdowns since 2019.
“GoI should announce general amnesty of interest on loans besides new loans on low interest rates may be announced to the business units to generate economic activities.”
The Chamber further demanded many units which turned Non Performing Assests during the past many years due various reasons may be rejuvenated through special interventions.
CCIK also sought industrial benefits to the tourism sector which has been declared as an industry way back in 1996.
“Even through tourism was declared as an industry but it is denied the industrial benefits. The power tariff and other cherges should be levied as per SSI units.”
Ghani further demanded power tariff amnesty to commercial and domestic users from the year 2019 to 2022 during which Kashmir witnessed downfall in business.
CCIK President said Kashmir lacks proper infrastructure of roads, in education and health sector.
He demanded that all weather road may be developed across Kashmir especially Srinagar Jammu highway.
“Besides, local investors may be encouraged with financial assistance for the development of infrastructure in health and education,” he said.
The CCIK also reiterated the long pending demand of the hoteliers granting them permission for repairs and renovations of the existing properties at Srinagar, Gulmarg, Pahalgalm and Sonmarg so that the facilities are upgraded as per the current standards in the hospitality sector.
The CCIK said Kashmir handicrafts and horticulture sector which are one the mainstays of the economy needs promotion at government of India level at national and international markets.
To encourage youth for new startups, the CCIK President demanded that special schemes should be announced for them and cleared through single window system on fast track basis.