Holds extraordinary general meeting, scores of delegates from diverse districts pledge to make federation more vibrant
SRINAGAR: The Kashmir Traders & Manufacturers Federation (KTMF) held an Extraordinary General Meeting (EGM) on Tuesday at a local hotel. The event was attended by a considerable number of KTMF members, all the District & Tehsil representatives of KTMF, stakeholders, and many other special invitees in which key discussions and scores of issues faced by the business fraternity were thoroughly discussed.
The acting President, Mohammad Yaseen Khan, welcomed the participants and outlined KTMF’s priorities ahead. He emphasized the importance of working closely with the government, stakeholders, and other organizations to address the challenges faced by businesses in Kashmir and promote economic growth.
Khan highlighted KTMF’s activities, events, and meetings held during the period from February 2022 till date. A notable achievement of record meetings with the Chief Secretary, Divisional Commissioner Kashmir, MD Jammu & Kashmir Bank, various Deputy Commissioners, Commissioner Sales Taxes, and many other high-ranking State Government officials was highlighted. “This demonstrates KTMF’s proactive approach in advocating for the interests of its members and contributing to policy discussions,” he said.
A statement issued here said, “At the Extraordinary General Meeting organized by the Kashmir Traders and Manufacturers Federation (KTMF), a dedicated gathering of delegates from various districts in Kashmir convened to deliberate on a multitude of pressing issues affecting local traders. The discussions encompassed topics such as economic challenges and regulatory obstacles, reflecting the shared concerns within the business community. The united consensus emerging from the meeting emphasizes a collaborative effort to present these challenges to the government, with the aim of fostering constructive dialogue and implementing solutions that will support the enduring growth and stability of businesses across the Kashmir region.”
Khan highlighted the inadvertent impact of ongoing road widening projects on local shopkeepers. They called for a comprehensive rehabilitation plan to ensure affected individuals are adequately compensated and provided with viable alternatives, striking a balance between infrastructural development and the livelihoods of traders.
Regarding Jammu & Kashmir Bank, Khan said there is a dire need for comprehensive financial solutions for small-time traders and a soft OTS policy for borrowers. He said, “We at KTMF have decided that we will take up the matter again with the Jammu & Kashmir Bank and at other appropriate levels and impress upon them to announce an OTS Scheme which would be of genuine relief for borrowers. We also urge J&K Bank to revisit the lending policies, relax lending guidelines to general traders falling under the MSME sector, review the rating mechanism, and formulate a restructuring plan to provide additional funding to the borrowers.”
“Founded in 1944, the Kashmir Traders & Manufacturers Federation (KTMF) has consistently championed the cause of traders, representing all the diverse districts of Kashmir. It has worked tirelessly towards the improvement and prosperity of the business community. With a legacy spanning several decades, KTMF remains committed to advocating for policies that foster growth and sustainability in the region. Our enduring dedication reflects our belief in the pivotal role that a thriving trade environment plays in the overall economic development of Kashmir. By working closely with the government and other key partners, we aim to create a conducive environment for businesses to thrive, fostering job creation and enhancing the overall economic landscape in Kashmir. This collaborative initiative reflects our dedication to understanding and mitigating the challenges that businesses in Kashmir encounter. Through taking stakeholders on board for various developmental programs, we believe we can pave the way for sustainable growth and development. We look forward to the positive impact this collaboration will have on the business community in Kashmir and anticipate a brighter future for economic prosperity and inclusivity,” Khan observed.
Those who spoke on the occasion included President Handwara Traders Association Sofi Ajaz, President Kupwara Traders Federation Manoj Tandon, President Bandipora Traders Federation Ajaz Ah Baba, President Sopore Traders Federation Mohd Ashraf Ganie, President Baramulla Traders Federation Tariq Ah Mugloo, President Ganderbal Traders Federation Ghulam Hassan Parra, President Pattan Traders Nasir Ahmad Shah, President Tangmarg Traders Association Asif Jan, President Kunzar Traders Association Farooq Ahmad Dar, President Magam Traders Association Mir Ulfat, President Narbal Budgam Mohammad Muzaffar, President Anantnag Traders Federation Mohammad Iqbal Khan, President Pulwama Traders Federation Altaf Ahmad Kar, Chairman Shopian Traders Federation Riyaz Ahmad Mantoo, President Kulgam Traders Federation Mohammad Iqbal Dhobi, President Tral Traders Association Ashfaq Ahmad Kar. The above president of different districts of Kashmir were accompanied by their respective general secretaries. Srinagar was also represented with almost fifty bazar committees and senior members of KTMF.