Waiving off debts of ACCHs to help alleviate artisans’ load: KCCI

SRINAGAR: With regard to the demands of the Kashmir Chamber of Commerce and Industry (KCCI) taken up in the interaction with Chief Minister Mehbooba Mufti on 6th of November, President KCCI Javid Ahmad Tenga responded to the statements of the chief minister and the finance minister.
According to an official press note issued here on Monday, President KCCI stated that the proposed waiving off the debts of Artisan Credit Card Holders (ACCHs) would help in alleviating the load off the back of the incapacitated artisans who have been fighting for the waiver since the devastating floods of 2014.
The statements of the chief minister regarding the ‘venomous’ coverage being given to the State of Jammu and Kashmir by selected media channels and its impact on tourism was also appreciable, the press note read.
While thanking the state government for appreciating the role of the business community, Tenga stated that many positive statements have emanated from the ‘Business Enclave’.
Regarding the views of Finance Minister Haseeb Drabu, Tenga said that the Kashmir Chamber of Commerce and Industry had put forth similar viewpoints on the status of rescheduled loans and about the futility of further extension of the moratorium period, the press note read.
“The business community of Kashmir is under extreme distress and duress with their backs against the wall. There are serious, grave and multi-dimensional issues involved which need delicate handling,” read the press note further.
There were valid and justifiable reasons for any relief, waiver or help given by the state and the Kashmir chamber strongly believed that it should not be seen as any favour or charity for the business community. On the contrary, the instability of the region had cost the State of Jammu and Kashmir high economic costs which the business community of Kashmir had borne the brunt of, it read.
The note further added, “The demand for the quantification and compensation of losses due to the exploitation of the state resources especially, due to the Indus Water Treaty has also been a demand made by the successive state governments as a matter of right.”