Agro equipment suppliers bank accounts turned into NPA
Srinagar: Kashmir Trade Alliance (KTA) has demanded to release the dues of the suppliers of Agro products and equipment. Haji Ghulam Ahmed Laigro (Gul & Co.), President, Jammu and Kashmir Agro Suppliers Association, called on Ajaz Shahdhar, President, Kashmir Trade Alliance, during which he discussed the problems faced by suppliers of agro products and equipment. Expressing concern over the delay in releasing payments he said that the dues of the suppliers have not been released for a long time as a result of which the suppliers are facing severe difficulties.
Kashmir Trade Alliance President Ajaz Shahdhar said that these suppliers have also obtained loans from financial institutions and banks to supply agricultural products and other equipment; however, due to delay in disbursement of funds, they have to pay huge and extra interest on banks. He said that the business community has already suffered a loss of Rs 50,000 crore in the last two years, and now traders, suppliers and other industrialists are facing more difficulties due to delay in disbursement of funds. The president of the KTA said that if the dues were not remitted, they would be unable to repay the loans of the banks and their bank accounts would become “NPAs”. He demanded the government to release the funds of these agro suppliers before Eid so that these suppliers and other traders and staff associated with them could join in the real joys of Eid-ul-Adha
Meanwhile, Shahdhar also demanded that the pending liability of the contractors be released before Eid and said that many people are attached to contractors