Masoodi seeks bailout, revival package for Kashmir businesses, traders

Srinagar: Jammu and Kashmir Conference on Thursday said the government has failed to provide succor to businesses in Kashmir which are suffering from liquidity crunch to keep their bank accounts standard saying the traders and businessmen in Kashmir are facing losses for ten months and that without any prompt support from government, it would be impossible for them to stagger back to life.
Unfortunately many of our businesses do not fall in the guidelines of post COVID pancakes announced by the center recently said party’s Member of Parliament Hasnain Masoodi while expressing concern over the plight of traders and businessmen in Kashmir. “The package is for those who have suffered losses in past two months , while in case of Kashmir the businesses are running through losses for last ten months since august 5th last year. The immensity of the economic slowdown the businesses of all hues in Kashmir make it impossible for the people associated with it to stagger back to life in view of lifting of COVID-19 induced lockdown.”
Far from coming to the rescue of local businessmen, the government hasn’t refrained from charging them electricity and water bills, Masoodi said, “there has been no economic activity in Kashmir, the hotel, guesthouses and inns are vacant. People associated with tourism industry are already having a tough time to pay for their dues to bank. The players associated with tourism were already facing problems post 2014 floods; their woes have increased post 5th august last year. Unfortunately, at a time when local hoteliers are beseeching for a massive economic package, the government has chosen to do other way around. It is unbecoming of government to extract money from hoteliers at a time when they are already struggling with their finances.”
Masoodi said government cannot shut its eyes to the woes of businessmen, traders and industrialist in Kashmir, Masoodi said adding, “any dereliction by government in coming to the rescue of people associated with trade and business will decrease the avenues of already fewer employment avenues in J&k. Therefore it is expected of GOI to come to the rescue of businesses in Kashmir who have been suffering on different accounts since august 5th last year. A massive bailout and revival package is what is needed by the struggling businessmen to help them rise on their feet again. In addition to that an electricity and water usage charge waiver should be announced to help the business remain afloat.”

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