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Worried over losses, businessmen in Jammu and Kashmir seek to meet PM

Since August 5, business sectors including hospitality and tourism, handloom and handicraft, agriculture and horticulture have been badly hit.

Published: 13th March 2020 04:30 AM  |   Last Updated: 13th March 2020 11:56 AM   |  A+A-

PM Narendra Modi

PM Narendra Modi (Photo | PTI)

Express News Service

SRINAGAR: The business community of Kashmir, which has incurred over Rs18,000 crore losses since scrapping of Article 370 on August 5 last year, has approached senior Jammu and Kashmir BJP leader and Union MoS PMO Dr Jitendra Singh to facilitate a meeting with Prime Minister Narendra Modi.
At least 30 trade bodies including Kashmir Chamber of Commerce of Industry (KCCI) have written a letter to Jitendra informing him that business community is completely devastated and their survival is under threat. 

Since August 5, business sectors including hospitality and tourism, handloom and handicraft, agriculture and horticulture have been badly hit. “Despite unrest and turmoil since 1990, we managed to continue business activities. Approximately 2400 days (more than 5.5 years) of standstill since 1990 until this day due to unrest and turmoil has made survival of business community vulnerable,” reads the letter.

It states that despite incurring losses, traders have never been hesitant in paying banks interest and other administrative charges.  The MoS PMO had on Monday held meeting with Kashmir-based businessmen in New Delhi and assured them that the Centre would come up with a comprehensive policy to revive Jammu and Kashmir’s fallen economy.

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