Srinagar: Government’s failure to compensate business people for losses they suffered in 2014 floods is giving a tough time to scores of entrepreneurs (whose business establishments suffered heavy losses in the deluge) as they are not in a position to pay monthly bank loan installments.
These entrepreneurs had taken loans from the Jammu and Kashmir Entrepreneurship Development Institute (JKEDI) for startups. They are now seeking personal intervention of Governor NN Vohra in coming to their rescue by announcing some package for their rehabilitation.
“We didn’t receive any compensation from the government for the losses we suffered due to the floods as a result our business units are virtually grounded. The little money we have is not enough to pay monthly installments to bank against the loans we have taken,” said an entrepreneur.
They said that due to the low business activities from last two years, they are failing to generate income to meet the bank loans.
The entrepreneurs said that earlier JKEDI promised them that due compensation would be paid to them against the loss they suffered, “but nothing has been done so far in this regard”. “Even our names have not featured in the list of the flood victims,” the entrepreneurs added.
“JKEDI authorities are continuously sending us notices for paying of bank installments. We have already invested our money in business which is yet to take off,” the entrepreneurs said.
“Now we seek intervention from the Governor, N N Vohra to save the future of scores of youth who have invested their precious time and huge sum on their businesses,” said an entrepreneur.