JK appeals New Delhi for loan waiver to flood-hit biz units

SRINAGAR: The state government on Monday appealed New Delhi to provide loan waiver to the business units that got damaged in the floods last year.
An official handout issued here said the Minister for Law, Justice, Parliamentary Affairs, Relief and Rehabilitation, Syed Basharat Bukhari, called on the Union Minister for Minority Affairs, Najma Heptulla, here.
Bukhari apprised Heptulla on matters related to relief and rehabilitation of the flood victims, highlighting the issues regarding “financial reprieve to business units that suffered damage during September-2014 floods”.
“During their meeting, the law minister urged the union minister to consider the proposal of loan waiver submitted to the centre for the business units that were financed under Term Loan Scheme of National Minorities Development Finance Corporation (NMDFC), and had suffered either full or partial damage during last year’s deluge,” it said.
Bukhari, as per the handout, said the business units having suffered “immense damage” during the floods were facing difficulties in repaying their loans. As per the handout, under the Term Loan Scheme for Minorities, soft loan is extended to youth for establishment of income-generating business units, and is implemented in the state through JKEDI and JKWDC.