DIMINISHING TRADE
We are already in the month of June and the business is not picking up in Kashmir in any sector. There has been no business in the past eleven months since the government decided to go for a massive clampdown post August 5, 2019, in Jammu and Kashmir.
Recently all the trade unions in a joint press conference in Srinagar said that now is the time for the Union Government to roll out a comprehensive financial package “for us otherwise we are doomed”.
They said that even the unlock phase 1 is showing no results in the markets as there is no cash flow in Kashmir, “because we have seen a continuous lockdown for the past ten months and still continuing”, said one of the trade union leaders to the media recently.
Industrial units in Kashmir valley have virtually closed down their business as the government is not intervening. They are under huge stress. They have borrowed money and our accounts are bad. The authorities are not allowing them to avail benefits of schemes including the new 20 Lakh Crore package announced by the Central Government as their stressed accounts debar them from qualifying for the guidelines.
Contesting the various government orders passed by the UT administration, all the benefits are for the new unit holders and the officers are paying no heed according to them to make amendments in these orders so that the incentives can come to the old unit holders also.
These industrial units will soon close down and there would be no hope for their revival if the central government will not relook at their policies towards them and also will not amend their earlier schemes so that the benefits flow to hundreds of old unit holders in various industrial areas of Jammu and Kashmir.
