Amid market slump, KTMF, KEA seek SRO for Kashmir inc
Srinagar: In the wake of a ‘continued market slump’ in the valley, the Kashmir Traders and Manufacturers Federation ( KTMF) President Muhammad Yasin Khan has appealed the Finance Minister Dr Haseeb Drabu to take some ‘path-breaking decisions’ to revive the sunken economy.
Khan, who also heads the Kashmir Economic Alliance (KEA) took the decision in this regard after a marathon meeting of the core group, which discussed the market slump in the Valley and what all could be done to revive it.
Khan said there was a dire need to extend the moratorium period for repayment of loans for the flood affected traders who couldn’t recover since the devastating deluge of 2014 and situation thereafter.
“There’s also a need to pass an SRO whereby pending Sales Tax could be paid in easy installments in keeping with the requirements of the business community of this trouble torn region,” Khan said.
Thanking Drabu for having helped Kashmir Inc. in filing of GST by getting it extended by three months, the KTMF said similar measures were needed to cope up with the issued linked to extension of moratorium and Sales Tax.
“We hope the Finance Minister will come to the rescue of the business community in needs with the expectations of the business fraternity,” the KTMF said in the handout.
