Jammu, Sept 22: The PHD Chamber of Commerce & Industry (PHDCCI), Jammu Region, together with the Hotel & Restaurant Association, Katra (HRAK), has made a strong appeal to the government for urgent relief measures to rescue the hospitality and allied sectors, which have been pushed into an unprecedented crisis by recent disturbances and natural calamities.
A joint delegation led by PHDCCI Chairman and HRAK President, Rakesh Wazir, along with HRAK Chairman, Shyam Lal Kesar, met with Ashok Gupta, General Manager and Divisional Head, Jammu, J&K Bank, in the presence of Zonal Head Jammu, Anita Nehru, and Cluster Head Jammu, Arjun Singh Rathore. The delegation expressed gratitude to J&K Bank for introducing the Rehabilitation Package–2025 for distressed borrowers, an initiative earlier projected by HRAK during recent consultations with the bank.
Speaking on the occasion, Rakesh Wazir underlined the gravity of the situation faced by the tourism-driven economy of Jammu and Kashmir. He pointed out that the hospitality sector, which sustains thousands of jobs and contributes significantly to the UT’s economy, is reeling under the combined impact of multiple crises—the tragic terror attack in Pahalgam, heightened Indo-Pak tensions, frequent landslides triggered by incessant rains, and unfortunate tragedies at revered shrines such as Shri Mata Vaishno Devi Ji and Machail Temple. The prolonged suspension of the pilgrimage for over 22 days, he said, has further devastated businesses, leading to mounting defaults in loan repayments and even difficulties in paying salaries to employees.
Welcoming the Rehabilitation Package–2025, which includes provisions for extended repayment schedules and additional working capital loans, Wazir however urged the bank to reconsider the condition that borrowers must not have overdue accounts as of April 21, 2025. “There may be genuine cases where entrepreneurs have one or two overdue installments due to extraordinary hardships. Excluding them from the relief net will defeat the purpose of the package. Relief should be inclusive and practical,” he emphasized.
He also appealed to other banks operating in Jammu and Kashmir to introduce similar rehabilitation schemes for their borrowers, thereby ensuring uniform relief across the sector. Additionally, he suggested that units not opting for the full rehabilitation package but seeking temporary relaxations in repayment should also be accommodated.
Supporting the call for broader relief, HRAK Chairman Shyam Lal Kesar urged utility departments including Electricity, Water, and GST authorities to also announce corresponding measures to ease the burden on the business community. He appealed to the government to roll out a special amnesty scheme for commercial consumers, modeled on the benefits already extended to domestic consumers, along with a comprehensive rehabilitation package to safeguard the survival of small businesses and industries.
Both leaders stressed that without coordinated intervention by banks, financial institutions, and government departments, the hospitality and allied sectors, pillars of Jammu’s economy, risk collapse. They urged authorities to act swiftly so that this period of distress does not erode the confidence of entrepreneurs and employees who have already endured multiple setbacks.