Srinagar: Awami Itihad Party (AIP) strongly urged the Lieutenant Governor’s administration to provide a two-year breathing period to traders under the One-Time Settlement (OTS) scheme. Highlighting the severe financial strain that traders in Jammu and Kashmir are currently facing, Inam emphasized that such a concession is crucial for the survival and revival of the region’s business community.
Inam Un Nabi pointed out that traders in Jammu and Kashmir have been grappling with unprecedented challenges over the past few years. The disruption caused by the turmoil, coupled with the impact of the COVID-19 pandemic, has left the trading community in a precarious position. “There are Non-Performing Assets (NPA) worth ₹3,100 crores tied to traders in the region. Despite these enormous financial hurdles, the traders have already remitted ₹500 crores to the banks, demonstrating their commitment to clearing their dues,” Inam said.
Inam further stated that the traders, who have shown tremendous resilience in the face of adversity, now deserve at least a two-year breathing time to remit the remaining amount. “This is not just a matter of financial relief, but of sustaining livelihoods and preserving the economic fabric of the region. The traders have been the backbone of Jammu and Kashmir’s economy and it is imperative that the administration recognizes their contributions and the challenges they face,” Inam added.
Emphasizing the party’s commitment to this cause, Inam Un Nabi also noted that addressing the financial struggles of the traders is a key issue in AIP’s manifesto. “Our party has always stood for the economic empowerment of the people of Jammu and Kashmir. Providing relief to traders under the OTS scheme is not just an appeal, but a pledge we have made to the people. It is an integral part of our manifesto and we will continue to advocate for policies that support our business community,” he asserted.
Inam Un Nabi expressed hope that the LG administration will consider this appeal seriously and implement a policy that provides the necessary relief to the traders. He cautioned that failing to address this issue could lead to further economic distress, with potential long-term consequences for the region’s economy. “A two-year extension under the OTS scheme will allow traders to stabilize their businesses, recover from the financial strain and ultimately contribute more effectively to the state’s economic growth,” Inam concluded.
