Apni Party urges moratorium on loan EMIs for tourism, allied sectors

Srinagar, May 14: Apni Party Provincial President (Kashmir), Mohammad Ashraf Mir on Wednesday said that businesses—particularly those linked to tourism and allied sectors—have suffered a huge setback following the Pahalgam terror attack and subsequent incidents. He urged Lieutenant Governor (LG) Manoj Sinha and Chief Minister (CM) to intervene and facilitate a moratorium on loan EMIs for these sectors, as the people running such businesses are not presently in a position to pay even the instalments of their debts.
In his statement issued here, Mir said, “The terror attack at the Baisaran meadow in Pahalgam, along with subsequent incidents, has severely damaged businesses—especially those related to tourism and allied sectors. Many small entrepreneurs had taken loans from banks to establish their businesses in the hope of a better livelihood. However, with a complete decline in tourist arrivals, their businesses have suffered such a major setback that they are no longer in a position to pay their EMIs.”
Urging the Lieutenant Governor and the Chief Minister to intervene and ensure a moratorium on loan EMIs for the affected people, Mir said, “I humbly request Hon’ble LG Manoj Sinha and CM Omar Abdullah to intervene and ensure a moratorium on loan EMIs for the affected people affiliated with the tourism and allied sectors. It is imperative that the government steps in to extend its support to the affected businesses.”