Seeks overhaul of J&K Bank’s special OTS
The Biz Reporter
Srinagar, Jan 3: A delegation from the Kashmir Trade Alliance (KTA) met with Chief Minister Omar Abdullah today to discuss pressing challenges faced by the business community in the region and to seek government intervention for their resolution.
During the meeting, President of KTA, Aijaz Shahdhar, expressed gratitude for the Chief Minister’s attentiveness to their concerns. Shahdhar stated, “Chief Minister Omar Abdullah keenly listened to our issues, and we appreciate his government’s efforts to ensure an additional allocation of power supply to meet the electricity demands in Kashmir during the winter months.”
The KTA delegation raised significant issues regarding the special one-time settlement scheme (SOTS) announced by J&K Bank. They highlighted the need for the scheme to be implemented without any limitations on timeframe or upper caps, emphasizing that it should operate without any riders or tenure restrictions.
Furthermore, the delegation called for a power amnesty for commercial consumers, arguing that this initiative should be aligned with the amnesty already issued for domestic consumers. This long-overdue demand aims to help businesses clear their accumulated power dues, which have arisen due to unfavourable economic conditions.
Additionally, the KTA discussed the implementation of smart parking policies, advocating that shopkeepers should not be charged for parking their vehicles, which would ease operational pressures on local businesses.
KTA also discussed the issue of shortage of staff in J&K Bank branches and also brought to the notice of CM how the shortage of staff affects the functioning of these branches.
The delegation included prominent members such as Sabit Ali, Manindar Singh Bhasin, Nasir Hussain, Shabir Ahmad, Mehraj ud Din Wani, and Owais Yaqoob.
The KTA looks forward to the government’s positive response to their requests and is hopeful that these discussions will lead to meaningful solutions that support the growth and sustainability of businesses in Kashmir.
