National Conference (NC) Saturday asked the Government of India to shun its “ostrich-policy” towards the sinking economy of Jammu and Kashmir, saying any further delay in sustaining local businesses, trade, employment, agriculture and its allied sectors would have a disastrous impact on the local economy already on the deathbed.
In a statement issued here, NC Additional General Secretary Mustafa Kamal called for a comprehensive COVID-19 sustenance policy for the ailing economy of J&K.
He said the package should consider loan waivers, extension of moratorium to term loans and working capital, changing the NPA norms and reduction of electricity, and water utility bills by 70 percent.
“Extending the benefits of BPL to APL consumers during the COVID crisis will also go a long way in easing the burden of the people,” Kamal said.
He said horticulture, real estate, agriculture processing, manufacturing, tourism, transport and handicraft sectors had taken a major hit.
Referring to the packages doled out by the local J&K administration, Kamal said these packages were cosmetic in nature that failed to curb the investment inversions and nurse back to health the ailing manufacturing, horticulture, tourism, transport and handicraft sectors.
“Similarly nothing was done to check job lay-offs, sluggish recruitment process, business closures and bankruptcy and other ominous issues faced by our people. The little to no public spending also has had a devastating impact on J&K economy. Now that the fresh COVID-induced curbs have returned, the local tourism players, marginal traders and transporters have again hankered down, this time bearing more pain than ever before. The government, ditching its responsibility, has turned volte face to the plight of shut businesses and transport as a result of which the people associated with tourism, travel, transport, handicraft and real estate are facing immense hardships. The laid-back attitude of the government has severely pummeled the labourers, hawkers, marginal transporters and small traders. Where are they supposed to go,” he said.