KTMF raises critical economic concerns in meeting with CM

Srinagar, Oct 31: A high-level delegation from the Kashmir Traders & Manufacturers Federation (KTMF) met with Chief Minister Omar Abdullah at the Civil Secretariat to address pressing economic challenges facing the region's business community.

A statement said that led by KTMF President Mohammad Yaseen Khan, the delegation presented a comprehensive overview of critical issues impacting trade, commerce, and local livelihoods. The meeting highlighted the profound economic distress experienced by businesses in Kashmir amid persistent challenges and economic disruptions.

Key concerns raised during the meeting encompassed multiple critical areas of economic and infrastructural development. J&K Bank's lending practices emerged as a primary point of discussion, with the delegation expressing deep apprehension about the bank's approach towards borrowers. The traders urged the implementation of a One-Time Settlement policy aligned with Reserve Bank of India guidelines and called for measures to reinvigorate lending activities.

Rental settlement disputes with crucial government departments, including the J&K Wakf Board, Srinagar Municipal Corporation, Srinagar Development Authority, and Estates Department, were highlighted as significant impediments to business operations. The delegation emphasized the financial strain experienced by traders due to unresolved rental agreements.

Infrastructure challenges also took center stage. Power outages, particularly critical as winter approaches, were identified as a major concern. The delegation requested an amnesty program for commercial consumers and stressed the need for improved electrical infrastructure and alternative energy solutions.

Urban infrastructure, especially parking facilities in downtown Srinagar and other major towns, was another focal point. The traders sought designated parking areas to alleviate congestion and ensure accessibility for emergency services. Road widening initiatives were discussed with a call for a balanced approach that preserves local business interests.

Chief Minister Omar Abdullah reportedly provided a patient hearing to the delegation's concerns, assuring comprehensive support through accessible financing, streamlined policies, and critical infrastructure investments, the statement said.