KCCI president meets LG, discusses several business-related issues

Srinagar, Mar 6: President, Kashmir Chamber of Commerce and Industry (KCCI), Javid Ahmad Tenga today called on the  Lieutenant Governor of Jammu and Kashmir, Manoj Sinha, at Raj Bhawan in Jammu. The meeting focused on addressing critical business-related challenges and exploring opportunities for economic growth across the Union Territory.

As per the statement, Tenga articulated several pressing concerns affecting various sectors of Kashmir's economy and sought the Lieutenant Governor's immediate intervention to facilitate their resolution. President KCCI elaborated on the critical need for establishing an Exhibition Mart dedicated to showcasing Kashmir's internationally renowned handicrafts.

Tenga emphasised that this initiative would not only create a global platform for Kashmir's exquisite handicrafts but would also significantly stimulate tourism and generate substantial employment opportunities for thousands of skilled artisans throughout the region.

The welfare and development of artisans formed another crucial component of the discussions. Tenga passionately advocated for comprehensive initiatives to support artisans,  who play an invaluable role in preserving Kashmir's rich cultural heritage. It will help exports achieve Rs 10000 crore target set by the Government sooner rather than later.

Addressing the financial challenges confronting the business sector, KCCI President provided a detailed assessment of the current Special One-Time Settlement (OTS) scheme announced by J&K Bank. While acknowledging this initiative, he expressed concern regarding its restrictive parameters and limited scope. The KCCI President advocated for a more comprehensive, without upper limits as per MSME norms and flexible OTS scheme without restrictive conditions and with maximum tenure.

Javed Tenga emphasized that such an approach would enable businesses across sectors to effectively address accumulated debts and liabilities, thereby restoring financial stability and reinvigorating confidence among trade and industry stakeholders throughout the Union Territory.

President KCCI raised the issue of the amnesty scheme for commercial power consumers in Jammu and Kashmir. While expressing appreciation for the recently announced amnesty scheme benefiting domestic power consumers, the KCCI President underscored the imperative need to implement similar relief measures for commercial power consumers.

Concerns specific to the hospitality sector received particular attention during the meeting. Tenga highlighted the cumbersome and time-consuming processes currently required for hotel registration renewals, which create unnecessary administrative hurdles for operators in this vital economic sector. He also stressed the untapped potential of new tourism destinations across the region and urged concerted efforts to develop as per approved Tourism Master Plan , Environment impact assessment and carrying capacity and promote these locations to diversify Kashmir's tourism offerings and extend visitor seasons.

KCCI President also held a threadbare discussion on issues confronting general trade, horticulture sector. In a forward-looking proposal aimed at enhancing stakeholder participation in governance, Tenga requested the inclusion of KCCI representatives on the boards of key Public Sector Undertakings (PSUs) and J&K Bank.

The Lieutenant Governor attentively considered all concerns presented by the KCCI President and responded with assurances that his administration would thoroughly address these issues through appropriate policy interventions. Manoj Sinha expressed appreciation for the Chamber's proactive engagement and constructive proposals for economic revitalization.