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September 20, 2020 01:00:00 | Irfan Yattoo

Govt's Rs 1350 Cr economic revival package evokes mixed reaction

KCCI, KEA welcome package 

 Kashmir Chamber of Commerce and Industries (KCCI) and Kashmir Economic Alliance (KEA) on Saturday welcomed the economic package announced by the government and pitched for more such packages in future to boost the ailing business sector in the region.
The Lieutenant Governor (LG) Manoj Sinha announced an economic package of Rs 1350 for reviving the ailing business sector of Jammu and Kashmir.
Talking to Rising Kashmir, President KCCI, Shiekh Ashiq welcoming the decision said that the chamber had demanded the setting of a time-bound revival committee.
"We appreciate the work of revival committee headed by an advisor to LG KK Sharma, Financial Commissioner Arun Mehta and JK Bank Chairman. They worked tirelessly to finalise the report and later submitted to LG," he said.
Ashiq said LG administration had worked on fast track basis and termed the decision as an appropriate step to rejuvenate the J&K's economy.
"We are studying all aspects of this package and if there will any deficiency at any end, then the same will be submitted to administration," he said.
KCCI President also said that their demands were divided into two parts one for JK government and other for the central government.
"We are hopeful that remaining points that we had raised during our interaction with LG will be addressed the central government also," he said.
President Kashmir Economic Alliance (KEA), Mohammad Yaseen Khan said the economic package is a little relief to the business community that has been severely hit following the abrogation of Article 370 in August 2019.
“We were expecting a big package from the central government to revive fully business sector. This package is not sufficient to suffice our need,” he said.
Khan said the LG administration has fulfilled its promise and announced the package within the week and," we are thankful to him".
"It is a good beginning. We have a huge expectations from the government in future also,” he said.
“Business sector was the most affected sector in Jammu and Kashmir. We not only lost business in the COVID -19 pandemic but also suffered heavy losses following the abrogation of Article 370 in August 2019,” Khan said.
As per KEA President, people lost everything including tourism, agriculture, horticulture, and other sectors from the past 13 months. We have taken heavy debt from the banks and other financial intuitions and that is not returned, he said.
“It is major relief for the business sector but not sufficient package and there is need for more such packages in future,” he said.

 

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September 20, 2020 01:00:00 | Irfan Yattoo

Govt's Rs 1350 Cr economic revival package evokes mixed reaction

KCCI, KEA welcome package 

              

 Kashmir Chamber of Commerce and Industries (KCCI) and Kashmir Economic Alliance (KEA) on Saturday welcomed the economic package announced by the government and pitched for more such packages in future to boost the ailing business sector in the region.
The Lieutenant Governor (LG) Manoj Sinha announced an economic package of Rs 1350 for reviving the ailing business sector of Jammu and Kashmir.
Talking to Rising Kashmir, President KCCI, Shiekh Ashiq welcoming the decision said that the chamber had demanded the setting of a time-bound revival committee.
"We appreciate the work of revival committee headed by an advisor to LG KK Sharma, Financial Commissioner Arun Mehta and JK Bank Chairman. They worked tirelessly to finalise the report and later submitted to LG," he said.
Ashiq said LG administration had worked on fast track basis and termed the decision as an appropriate step to rejuvenate the J&K's economy.
"We are studying all aspects of this package and if there will any deficiency at any end, then the same will be submitted to administration," he said.
KCCI President also said that their demands were divided into two parts one for JK government and other for the central government.
"We are hopeful that remaining points that we had raised during our interaction with LG will be addressed the central government also," he said.
President Kashmir Economic Alliance (KEA), Mohammad Yaseen Khan said the economic package is a little relief to the business community that has been severely hit following the abrogation of Article 370 in August 2019.
“We were expecting a big package from the central government to revive fully business sector. This package is not sufficient to suffice our need,” he said.
Khan said the LG administration has fulfilled its promise and announced the package within the week and," we are thankful to him".
"It is a good beginning. We have a huge expectations from the government in future also,” he said.
“Business sector was the most affected sector in Jammu and Kashmir. We not only lost business in the COVID -19 pandemic but also suffered heavy losses following the abrogation of Article 370 in August 2019,” Khan said.
As per KEA President, people lost everything including tourism, agriculture, horticulture, and other sectors from the past 13 months. We have taken heavy debt from the banks and other financial intuitions and that is not returned, he said.
“It is major relief for the business sector but not sufficient package and there is need for more such packages in future,” he said.