Reschedule principal loans with complete waiver of interest: CTF

CTF president Neeraj Anand addressing a press conference in Jammu on Wednesday. Aman

JAMMU: Chamber of Traders Federation (CTF) demanded that all types of charges whether electric, commercial, industrial be waved off besides principal loans be rescheduled along with complete waiver of interest to save the business community from the blot of NPA.
Addressing a press conference here today CTF president Neeraj Anand said, “Economy of Jammu and Kashmir region is interdependent so is the social well being of the citizens. We enjoy hundreds of years of common history complementing each other rather competing. However due to bad politics encouraged by neighbouring country a peculiar situation has emerged that is ruining our economy.”
He hoped that under stewardship of Lt Governor G C Murmu, Jammu and Kashmir would enjoy vibrant environment free from violence, Corruption and Political uncertainty.
“As a responsible trade body, CTF reiterates its earlier offer to help diffuse current entanglement by forming Coordination committees comprising of real stakeholders from trade, transport, industry etc from both the regions Jammu as well as Kashmir. Such committees can help to streamline business activity in our State as Traders enjoy trust of all sections of the society. We also request administration to review detention of some trade leaders from Srinagar as a confidence building measure,” Anand said.
Talking about liquidity crisis in market post August 5, Neeraj demanded a mechanism be devised to immediately release pending payments of Government Contractors, suppliers, industrialists etc to ease the situation.
CTF also demanded immediate restoration of mobile internet services. “Due to suspension of internet across the State, Business community is finding it hard to cope up with the demands of doing business. We understand the importance of reining in rumour mongers however we insist that Government should explore banning of social sites used by anti-nationals rather than rendering this crucial business and communication platform redundant for people of Jammu and Kashmir,” asserted Neeraj.
“After abrogation of Article 370 and 35A, we are hopeful that large investments would come in all sectors in J&K State. Keeping in view the failure of Packages announced by previous Governments which concentrated on Industry alone, it is requested that fiscal incentives in the shape of Income Tax relief and GST exemptions etc should cover all sectors including Trade and Services which are providing direct and indirect employment to lakhs of people despite suffering continuously due to hitherto bad law and order situation,” he said.
He also demanded that the loss suffered by valley based growers and allied trades should also be compensated at the earliest.