You are here: Home » Current Affairs » News
Business Standard

Govt hell-bent on economic disempowerment of J&K, says Mehbooba Mufti

"Entire Jammu and Kashmir has been put on sale for people from outside. They want to target our self-sufficiency," she said

Topics
Mehbooba Mufti | Jammu and Kashmir | BJP

Press Trust of India  |  Srinagar 

PDP President Mehbooba Mufti addressing media during a press conference at her residence in Srinagar.
File Photo: PDP President Mehbooba Mufti

president alleged on Saturday that the government is "hell-bent" on ensuring the economic disempowerment of and that the valley is being "drained" of its wealth.

A delegation of Kashmir Distributors Association (KDA) office-bearers called on Mufti and apprised her of reports that the government is facilitating the opening of Reliance JioMarts across the Kashmir valley, a spokesperson of the People's Democratic Party (PDP) said.

Acknowledging the concern of the delegation, Mufti said the government is "hell-bent on the economic disempowerment of Jammu and Kashmir".

"Kashmir is being drained of its wealth," she added.

The former chief minister said while on one hand, the administration is "hounding" the business community in the Union Territory through the ED, the CBI and the NIA, on the other, it continues to facilitate "crony capitalists" to grab everything at cheap prices in the distressed economy.

"Entire has been put on sale for people from outside. They want to target our self-sufficiency," she said.

The delegation highlighted the ramifications of the said move, which can "systematically decimate" their sales, destroy their market share and pulverise the local economy.

"Competing with behemoths like Reliance having deep pockets, logistical advantages and facilitation by the system is simply not possible for us and it will eventually destroy us. Most of us get working capital from banks and run on cash credit accounts. If our market share is destroyed, we will default and these corporations will act as 'vulture capitalists' and devour us," the members of the delegation told Mufti.

The chief assured them of all possible help and urged the lieutenant governor to intervene in the matter.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, April 02 2022. 23:34 IST
RECOMMENDED FOR YOU