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| PHDCCI, HRAK demand immediate relief measures for Hospitality, allied industries | | |
early times report
Jammu, Sept 22: The PHD Chamber of Commerce & Industry (PHDCCI), Jammu Region, and the Hotel & Restaurant Association, Katra (HRAK),strongly urged the government for immediate relief measures to support the hospitality and allied sectors, which have been severely hit due to recent disturbances.
In same direction a joint delegation comprising of PHDCCI Chairman & HRAK President Rakesh Wazir & HRAK Chairman Shyam Lal Kesar met General Manager & Divisional Head Jammu,J&K Bank,Ashok Gupta in the presence of Zonal Head,Jammu Anita Nehru and Cluster Head,Jammu Arjun Singh Rathore,wherein delegation besides expressing gratitude to J&K Bank for announcing a Rehabilitation Package–2025 for borrowers affected by the ongoing turmoil which was projected by HRAK to the Bank in the recent meetings.
Mr. Wazir while speaking on the occasion highlighted that the hospitality and allied industries are passing through one of their toughest phases following the Pahalgam attack, Indo-Pak tensions, frequent landslides due to continuous rains, and the tragic incidents at Shri Mata Vaishno Devi Ji,Machail Temple and other parts of India wherein multiple lives were lost. The continuous suspension of Yatra for more than 22 days further deepened the crisis and the situation became so grim that businesses not only starting defaulting on their interest and loan installments but started struggling to pay the salaries to employees even. While welcoming the Rehabilitation Package–2025, which provides for extension in repayment periods and additional working capital loans, Mr. Wazir stressed that the condition requiring loan accounts not to be overdue as on April 21, 2025, should be softened. “There may be cases where unit holders have one or two overdue installments. Such borrowers too must be included in the relief measures,” he added.
He urged other banks also for giving relief to their customers and coming up with best possible rehabilitation packages.
Mr. Wazir also requested that units not opting for the rehabilitation package but seeking temporary repayment relaxations should also be considered.
Mr.Kesar besides this appealed to the Electricity, Water, GST, and other government departments to announce corresponding relief and rehabilitation measures. He urged the government to immediately roll out a special amnesty scheme for commercial consumers on the pattern of domestic consumers, along with a comprehensive rehabilitation package to safeguard the survival of industries during this distressing period.
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