NC rues admin’s ‘inability’ to fix Kashmir’s ailing economy

NC rues admin’s ‘inability’ to fix Kashmir’s ailing economy
NC FlagFile Photo

Srinagar: National Conference (NC) Thursday said that every sector of J&K economy had suffered losses in the last two years and accused the J&K administration of being unsuccessful in giving a push to the sagging economy.

A statement of NC issued here said that addressing scores of delegations of NC workers from north and south Kashmir, NC General Secretary Ali Muhammad Sagar said that all sectors of Kashmir’s economy, be it tourism, horticulture, transport, or trade had suffered losses in the past two years.

. “Our local economy was already on a death bed. The subsequent clampdown and lockdowns post 2019 have further abated any return of the local economy to the pre-August 2019 position, let alone putting it on the path of growth,” he said. Sagar said that the economic crisis in Kashmir began with the floods in 2014, followed by demonetisation and then successive lockdowns.

“Local economy has suffered from the double whammy of natural catastrophes and man-made disasters. The crippling impact of 2014 deluge, GST implementation, price rise, Covid-19 induced curbs and resultant instability and chaos has made it difficult for the businesses to spring back,” he said.

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