Excelsior Correspondent
Srinagar, July 3: Scores of flood hit entrepreneurs are finding it hard to survive and rebuild their business as they have to sell their assets to pay back the loan amounts which they received on subsidized interest rates from Jammu and Kashmir Entrepreneurship Development Institute (JKEDI).
Almost two years have passed since the devastating floods hit Kashmir but the miseries of hundreds of young entrepreneurs whose business units were washed away have not ended yet as they have been running from pillar to post for help.
“Post -floods, Entrep-reneurship Development Institute conducted surveys of the damages and promised to help us by various means. About five to six surveys were conducts and each time they assured us help but till now nothing has happened,” said Junaid Mir, an entrepreneur.
They encouraged us to restart our business and not to close it down and they would provide help, the entrepreneurs said. “I somehow restarted my business but received no help. What followed instead were more surveys and more promises but no action. We also had a meeting with the Chief Minister but with no effect.
“Now, the EDI officials call me to deposit all the installments since the floods. My business was washed away, what I will give them? Now they are even pressurizing us to sell our assets so to pay them back”, said another entrepreneur, Aamir Shafi.
When contacted, Director JK EDI, Kashmir, Mohammad Ismail Parray said his institute cannot provide them relief ‘as it is up to the State Government and we have already recommended all the cases to them’. “But final call has to come from the Government,” he said.
However, the Director said, under Term Loan Scheme for minorities from Government of India they will be provided additional loans so that they can restart their business and liquidate the liabilities.
Follow our WhatsApp channel