Commercial activities in Kashmir have come to a grinding halt and stand collapsed.

Every sector of the economy of the valley needs to survive before reviving. The economy, and the populace engaged with it, is just existing. What it needs is a big stimulus in the shape of emergency non- refundable cash assistance said the President of the Associated Chamber of Commerce and Industries- Kashmir (CCIK), Gh. Mohi-ud-din Khan.

He said, “the provision of assistance in the shape of a loan, at the end of the day, is nothing but a loan, which is to be repaid and carries a handsome rate of interest. The call of the hour is grants-in-aid.”

Tariq Rashid Ghani, Secretary-General of the CCIK said that every sector, be it horticulture, be it agriculture, be it tourism, be it transport, be it handicrafts, be it industries, be it general trade or for that matter any other economic activity, over here, is in the doldrums.

Tariq Rashid Ghani further added that fast-moving commercial goods are moving but have become slow-moving commercial goods.

The CCIK President further noted that the CCIK could make suggestions to the Govt. for the survival of the economy but sees that the administration was not, perhaps, concerned about it.

“Had it been concerned then they could have at their own level, considered, in the first instance, a complete waiver of all fixed electricity charges, water usage and other utility charges from August 2019 till the pandemic scare is over. Immediately they could have also considered, forthwith, refund of GST of the financial year of 2019-20 and 2020-21 as it could work as immediate working capital for the trading community for the time being”, he added.

The President and the Secretary-General think that a small step by the administration in the right direction at this time could be taken by them sooner than later.