· Highlights ‘coercive’ banking practices, power outages, infrastructure needs
· Seeks government intervention for economic stability
SRINAGAR: A delegation from the Kashmir Traders & Manufacturers Federation (KTMF) met with Chief Minister Omar Abdullah at the Civil Secretariat on Wednesday to discuss pressing issues affecting the business community in the region. The delegation, led by KTMF President Mohammad Yaseen Khan, included representatives from various districts.
During the meeting, Khan, according to a KTMF statement issued here, highlighted multiple challenges faced by local businesses, including the alleged coercive practices of J&K Bank towards borrowers. “The business fraternity is deeply concerned about J&K Bank’s current approach, which includes intimidation and harassment of local borrowers. We urge the Chief Minister to implement remedial measures, such as a One-Time Settlement (OTS) policy in accordance with RBI guidelines,” he stated.
Khan also raised concerns about high interest rates, inadequate digital payment systems, and the need for comprehensive financial solutions specifically for small traders. Additionally, he emphasized the urgent need to resolve rental agreements with key departments, noting that many traders are suffering financial strain due to unresolved issues.
Power outages were identified as another significant concern as winter approaches. Khan urged for improved infrastructure and better load management to address the increased electricity demand during colder months. He requested the introduction of an amnesty program for commercial consumers facing difficulties due to power cuts.
The delegation also brought attention to inadequate parking facilities in Downtown Srinagar, which have contributed to severe congestion in historic markets. Khan called for designated parking solutions to alleviate traffic issues and improve accessibility for emergency services.
Chief Minister Omar Abdullah assured the KTMF delegation that the government would prioritize measures to support economic stability in Kashmir. He committed to holding quarterly meetings with KTMF members to address ongoing concerns.
The meeting included key government officials, such as Deputy Chief Minister Nasir Aslam Wani and various secretaries from relevant departments. The KTMF delegation expressed hope that the discussion would lead to actionable solutions for the challenges facing the region’s business community.
Present at the meeting were Deputy Chief Minister Nasir Aslam Wani, Chief Secretary, Additional Chief Secretary, Principal Secretary to the Government Finance Department, Principal Secretary to the Government Power Development Department, Commissioner Secretary to the Government Industries and Commerce Department, Commissioner Secretary to the Government Tourism Department, MD KPDCL, and other concerned officers.
The delegation included senior KTMF members and district heads such as Qazi Tauseef, Bashir Ahmad Rather, Zahoor Ahmad Shah, Din Mohammad Mattoo, Lateef Ahmad Sofi, Firdous Ahmad Ganie, Fayaz Ahmad Bhat, Nisar Ahmad Shahdar, Sheikh Arif Kareem, Mohammad Ashraf Wani, Khursheed Ahmad Dalaal, Shabir Ahmad Naqash, Peer Intikhab, Manoj Tandon (Kupwara), Shameem Makhdoomi (Kupwara), Mohammad Iqbal Dhobi (Kulgam), Riyaz Ahmad Mantoo (Shopian), Mohammad Iqbal Khan (Anantnag), Altaf Ahmad Kar (Pulwama), Ghulam Hassan Parra (Ganderbal), Ajaz Sofi (Handwara), Sheikh Shahzad (Handwara), Riyaz Ahmad Zargar (Kishtwar), Altaf Shah (Kishtwar), Mohammad Ashraf Ganie (Sopore), Haji Mohammad Shafi Wathloo (Uri), Asif Rashid (Tangmarg), Ghulam Jeelani Bhat (Qazigund), Nasir Bashir Shah (Pattan), Firdous Ahmad Dar (Kangan), and Muzamil Arfat Wani (Char-e-Sharif).