Kashmir Electrical Manufacturers warn of industry collapse amid policy shift

Srinagar, June 25:  The Kashmir Electrical Manufacturers Association (KEMA) held an emergency meeting today at their Sanatnagar office, highlighting growing concerns over the Union Territory government's recent industrial policy shift. The meeting, chaired by KEMA President Raja Nayeem Ahmed Khan, focused on the challenges facing the electrical equipment manufacturing sector.

According to a statement, members unanimously agreed that the new government policy is having detrimental effects on the existing industrial landscape, pushing many units to the brink of closure.

The association expressed serious concern over the policy's impact on the financial health of the industry, warning of a potential increase in non-performing assets (NPAs).

"If the government doesn't address these issues promptly, we're looking at widespread closures and a surge in unemployment," stated Khan. He urged members to submit their suggestions, promising to make these concerns public through an upcoming press briefing and to escalate the matter to the highest authorities. Secretary General Latif Shah emphasized KEMA's ongoing efforts to highlight the electrical sector's grievances. The association plans to announce the date and venue for a press briefing separately, where they will detail their concerns and proposed solutions.