Srinagar, May 23: A delegation of the Kashmir Chamber of Commerce and Industry (KCCI), led by President Javid Ahmad Tenga, met Lieutenant Governor Manoj Sinha at Raj Bhawan today, seeking immediate economic revival measures following the recent Pahalgam attack.
According to a statement, KCCI said that the April 22 incident has had a devastating impact on the region’s economy, severely affecting trade, industry, tourism, transport, start-ups, handicrafts, private sector employees, daily wagers, and allied sectors.
The KCCI delegation included Senior Vice President Ashiq Hussain Shangloo, Junior Vice President Fayaz Ahmad Punjabi, Secretary General Faiz Ahmad Bakshi, Treasurer Zubair Mahajan, and Executive Committee Member Mohammad Ibrahim Siah.
President KCCI conveyed that the business community had invested heavily in anticipation of continued growth, but the tragedy has not only shaken public confidence but also disrupted revenue streams across sectors. Thousands of enterprises are now struggling to meet their loan obligations amid reduced cash flows and minimal tourist footfall. The delegation also highlighted the mounting debt faced by transporters and urged the administration to initiate tourism promotion efforts at the earliest.
KCCI requested the Lieutenant Governor’s intervention for a comprehensive relief package from the Central Government, similar to those provided after the 2014 floods and during the COVID-19 pandemic. Their appeal included measures such as interest subvention, loan moratoriums, emergency credit lines, tax waivers, power amnesty for commercial users, and the release of pending payments to contractors. They also called for the extension of loan settlement schemes under MSME guidelines and a focused effort to revive tourism.
The Lieutenant Governor gave a patient hearing to the delegation and assured them that the administration remains sensitive to the economic distress caused by recent events. He acknowledged the challenges and stated that the suggestions would be reviewed for possible implementation. He emphasised the need for key sectors that had performed well in recent years to take the lead in sustaining employment and driving recovery.
KCCI expressed its gratitude to Lieutenant Governor Sinha for the meeting and his assurance of support, reaffirming its commitment to working closely with the administration for the economic revival and long-term development of Jammu and Kashmir.
