The government is bent on disempowering J&K economically: Mehbooba

PDP chairman Mehbooba Mufti on Saturday alleged that the government was ‘determined’ to ensure Jammu and Kashmir’s loss of economic power and that the valley was ’emptied’ of its wealth.

A delegation of members of the Kashmir Distributors Association (KDA) office called Mufti and briefed her on reports that the government is facilitating the opening of Reliance JioMarts in the Kashmir valley, a spokesperson said. of the People’s Democratic Party (PDP).

Acknowledging the delegation’s concern, Mufti said the government was ”determined to tackle the economic impotence of Jammu and Kashmir”.

“Kashmir is being emptied of its wealth,” she added.

The former chief minister of Jammu and Kashmir said that on the one hand, the administration is ‘hunting down’ the business community in the union territory through the ED, CBI and the NIA, on the other hand, it continues to facilitate ”crony capitalists” to grab everything on the cheap in a struggling economy.

”All of Jammu and Kashmir has been put up for sale for people from outside. They want to target our self-sufficiency,” she said.

The delegation pointed to the ramifications of the said decision, which can ”systematically decimate” their sales, destroy their market share and pulverize the local economy.

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

The leader of the PDP assured them of all possible help and urged the Lieutenant Governor to intervene in the matter.

(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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