Jammu Traders appeals for financial assistance waiver of interest
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Jammu Traders appeals for financial assistance waiver of interest

By Theweek calender  08-Sep-2019

Jammu Traders appeals for financial assistance waiver of interest

  • With normal life continue to remain paralysed in the valley over the past one month after the abrogation of special status to Jammu and Kashmir, the business community here Saturday said they are facing acute financial crisis and appealed for financial assistance and waiver of interest on bank loans.
  • The business sector supplying goods to Kashmir is suffering very badly as traders have no contact with buyers from the valley due to communication blockade, as a result of which payments worth crores are withheld for the supplies made in the month of July and August, a local traders body, Traders Federation Ware House, Nehru Market, said.
  • "The business of Kashmir and Jammu depends on each other and both of them cannot survive without each other," General Secretary of the Federation Deepak Gupta said.
  • He said speaking at a meeting of the federation which was convened to discuss the "acute financial crisis" being faced by Jammu traders.
  • Strict restrictions were placed across Jammu and Kashmir on August 5, the day BJP-led NDA government announced abrogation of the provisions of Article 370 and bifurcation of the state into two Union Territories -- Jammu and Kashmir, and Ladakh.

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