Waive off interest on term loans, working capital: SIDCO unit holders appeal government

Pampore: Unit holders at state Industrial developement complex Khunmoh, which have been hit with the ongoing lockdown, appeal government for waiving interest on their term loans and working capital.
Zubair Ahmad , President of unit holders association at Khunmoh Srinagar told Kashmir Reader that they have been in lockdown for past 11 months due to which their business was severely hit.
“We are in lockdown not only for past two months but since August 5 of past year,” he said.
He said that they held many deliberations with government officials pleading before them for waiving their interest on bank loans.
“We were expecting that a package will be announced and unit holders in Kashmir will get a breather but the package announced by government has nothing for Kashmir industry,”he said, adding that the package can benefit industries outside Kashmir.
He added that if government wishes to revive industry in Kashmir then it must waive off interest on term loans and working capital.
He appealed government for grant of special loans for industry in Kashmir.
“We demand that government should provide us soft loans with zero interest for the first year and from one year onwards we will pay interest at normal rates,” he said.

Leave a Reply

Your email address will not be published.