Can’t be taken for granted anymore, says Kashmir’s business community

Kashmir traders’ groups have said they have sent a clear message with their boycott of the pre-Budget meeting with the Finance Ministry that they cannot be taken for granted anymore and be swayed by false assurances.
Traders said they boycotted Monday’s meeting in protest against the government’s “failure” to suitably rehabilitate victims of last year’s floods, but there were other reasons that had led to resentment among the business community.
“We expressed our disappointment by boycotting the meeting. The government is only playing politics and fooling us through false promises. We have sent a signal that we cannot be taken for granted anymore,” said Kashmir Economic Alliance (KEA) chairman Mohammad Yaseen Khan.
He said after failing to suitably rehabilitate the business community, that was hit hard by the floods, the government had added insult to injury through harassment by the Commercial Taxes, Labour and Income Tax departments.
Kashmir Chamber of Commerce and Industry secretary general Faiz Bakshi said instead of coming to their rescue post floods, a reign of terror had been unleashed by imposing undue taxes. He claimed that the government had 26 per cent higher tax revenue this year compared to the corresponding period last year.
Besides suitable compensation for losses suffered after floods, traders had demanded tax exemption, soft loans and 10-year interest-free advance as business capital for revival of business activities.
Bakshi said not much had been done to give a boost to tourism and industrial sectors while handicraft exports had witnessed a decline.
“Tourism, transport, industry and handicraft sectors continue to bleed due to wrong priorities of the government. The industrial sector has seen a significant fall in production after the floods,” he said.
“The export of handicrafts has fallen from Rs 1,800 crore in 2013-14 to Rs 1,200 crore in 2014-15, jeopardising the fate of lakhs of artisans, weavers and exporters,” he said.He said Finance Minister Haseeb Drabu had failed to take steps to raise business sentiment and there was no point in attending a pre-Budget meeting.