Abhay Bakaya demands loan moratorium extension

Jammu, June 06, 2021: State Youth General Secretary, Apni Party, Abhay Bakaya on Sunday expressed his concern over the suffering of the business class, traders and entrepreneurs in Jammu and Kashmir due to the current pandemic crisis.

In a statement issued here, Abhay said that the economic situation of the business class in J&K was already in shambles but with the onset of covid-19, the condition has further gone from bad to worse.

“The people are extremely stressed out and dejected. The markets are closed, the savings have been exhausted while as the bank EMI’s are adding more to the miseries of the general public,” he observed.

He said that the situation is drenched in gloom wherein it appears there exist no respite for the people in regards to ending their woes.

“Only if the government is serious about taking some prompt relief measures can many things change for the people at grassroots level,” he remarked.

Abhay said that the people related with small scale industries, entrepreneurship, trade, transportation and tourism have silently borne the brunt of these tough times but currently the bank EMI’s have further added to their sufferings and had totally devastated their hopes to come out of this situation.

“I urge the administration to introduce a people friendly policy in the time of this pandemic and direct the banks and other financial institutions to deliver a moratorium period of atleast eight months to their beneficiaries, so that they get an ample time to recuperate from the losses incurred by them and resume their business activities without any incumbrances,” he demanded.