Faheem Reshi Seeks ₹26,000 Crore Special Package, Loan Relief for J&K Traders

GNS ONLINE NEWS PORTAL 

NEW DELHI FEBRUARY 13:-Independent Social and Political Activist and Chairman of Greater Shah-re-Khaas, Faheem Reshi, has appealed to the Union Finance Minister and the Lieutenant Governor of Jammu & Kashmir, Manoj Sinha, to announce a special financial package and loan relief measures for traders across Jammu & Kashmir.

In his statement, Reshi said that the trading community, particularly in Shah-re-Khaas and other parts of the Kashmir Valley, has been grappling with severe financial distress for nearly two decades due to prolonged unrest, repeated shutdowns, and unstable business conditions. He claimed that as a result, a significant number of traders have defaulted on bank loans, with Non-Performing Assets (NPAs) amounting to nearly ₹26,000 crore across various financial institutions.

Reshi said that despite challenging circumstances, traders continued to contribute to the economy and stood by the nation during difficult times. However, he added, many are now struggling to sustain their businesses and support their families.

He urged the Central Government and the J&K Administration to:
Announce a special financial package for traders of Shah-re-Khaas and the entire Kashmir Valley.
Introduce a one-time settlement scheme or loan waiver for genuine NPA account holders.
Launch special rehabilitation and fresh credit support schemes for affected traders.
Provide financial assistance to strengthen the tourism and business sectors of Jammu & Kashmir.

Reshi emphasized that immediate intervention is essential to safeguard thousands of families dependent on trade and to revive the local economy.
“The time has come for the Government to provide special relief of around ₹26,000 crore for the rehabilitation of our traders. Such support will restore confidence, generate employment, and give a much-needed boost to tourism and business in Jammu & Kashmir,” he stated.
He expressed hope that the concerned authorities would take timely and compassionate action in the larger interest of economic stability and public welfare in the Union Territory.