Mujtaba Wani
SRINAGAR: Traders in Kashmir valley have appealed to banks to loosen the noose while recovering loan payments and in view of losses incurred by them during the recent turmoil.
Life in Kashmir has been severely hit for more than six weeks now, either due to a curfew imposed by the authorities or a shutdown called by separatists after the hanging of parliament attack convict Afzal Guru.
The traders have accused officials of the commercial taxes department and various banks of harassing them for payment “giving the excuse of closing session in March (2012-2013 fiscal).
“All the limits of decency have been transgressed by these institutions particularly the Jammu and Kashmir bank. Their (officers’) behaviour has become unbearable,” says a statement of the Kashmir Traders and Manufacturers Federation (KTMF) issued on Monday.
At a press conference yesterday, the KTMF said the valley had suffered a loss of more than 4500 crores (45000 million rupees) during the unrest after Guru’s execution on Feb 9.
The traders say the banks are showing no sympathy towards them “as if these banks belong to some other land than Kashmir.”
They have also appealed to the top authorities of the banks for leniency in case of those traders whose businesses were hit hard during the previous periods of unrest.
“Social rebate on interest should be given for these years. When the law and order had deteriorated in Jammu (in 2008) the traders were given a special interest concession on their loans but the traders of the valley are being kept bereft of any such concessions,” the KTMF said.
The traders say they will repay all their debts to the banks, but seek delay in the recovery process.
“We are not denying the loans they have taken from these institution and will settle their debts amicably but keeping the ground situation in mind the recovery process by the banks should be postponed for now.”
