KCCI President Meets Lt. Governor to Propel Economic Reforms in Jammu and Kashmir

Jammu, February 3, 2024In a crucial follow-up meeting, Javed Ahmad Tenga, President of the Kashmir Chamber of Commerce & Industry (KCCI), held discussions with Lt. Governor Shri Manoj Sinha in Jammu to address pressing concerns affecting the region’s economic landscape. The meeting, conducted on February 3, 2024, marked a proactive approach towards finding resolutions for issues that have been persistently raised in earlier engagements.In the meeting, President Tenga highlighted the need for a streamlined process in the renewal of Tourism Registration Licenses for hotels, restaurants, and houseboats under a Single Window System. The current lengthy renewals, attributed to the cumbersome process of obtaining NOCs from multiple departments, were a focal point. Additionally, permissions for repairs, renovations, and reconstructions of hotels in key tourist areas like Pahalgam, Gulmarg, Sonmarg, and LCMA were discussed.Emphasis was placed on the implementation of industry policies for the local industry’s benefit, including the allocation of quotas for locally produced items. The President stressed the importance of ease of doing business and a Single Window System to address the rising unemployment problem in the state. The removal of capping on additional assistance for Capex Budget was also advocated.KCCI proposed active participation in major international trade fairs to promote Kashmir products, including GI tagged Pashmina, Carpets, and other GI Certified items, aiming to boost the handicrafts sector and increase exports.The Chamber sought amnesty for commercial power consumers, paralleling the amnesty granted to domestic consumers. This move aims to facilitate arrears recovery while providing relief to willing payers. Concerns were also raised about the shortage of food and beverage vending joints at Srinagar Airport, necessitating its expansion to accommodate growing tourism arrivals.An urgent need for the announcement of another One Time Settlement Scheme (OTS) with a higher cap and longer duration was highlighted. This scheme is expected to benefit both J&K Bank and borrowers, allowing for the regularization of accounts.Lt. Governor Shri Manoj Sinha assured President Tenga that the raised issues are under serious consideration and will be addressed promptly. Notably, this includes expediting the Power Amnesty and OTS Scheme. The President expressed gratitude for the Lt. Governor’s time and kind consideration during the meeting. Senior Vice President Ashaq Hussain Shangloo accompanied President Tenga in the discussions.The outcomes of this high-stakes meeting are eagerly awaited, as they hold the potential to shape the economic trajectory of Jammu and Kashmir, addressing critical concerns and fostering growth in various sectors.