Kashmir Being Drained Of Its Wealth, Says Mehbooba Mufti

SRINAGAR: People’s Democratic Party (PDP) President Mehbooba Mufti on Saturday said the government is hellbent on economic disempowerment of Jammu and Kashmir.

A delegation of Kashmir Distributors Association (KDA) office-bearers today called on Mehbooba Mufti and apprised her of the reports of the government facilitating the opening of Reliance Jio-Marts across Kashmir valley, reads the statement issued by PDP.

The delegation highlighted the ramifications of the said movie 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 facilitation by the system is simply not possible for us and will eventually destroy us. The majority 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 delegation emphasized.

Acknowledging the concern of the delegation Mehbooba Mufti said that the government is hellbent on economic disempowerment of Jammu and Kashmir.

“On one hand the Administration is hounding the business community of J&K through ED, CBI, NIA and on the other it continues to facilitate crony capitalists to grab up everything at cheap prices in the distressed economy. Entire J&K has been put on sale for the people from outside. They want to target our self-sufficiency,” Mehbooba said.

Mehbooba gave a patient hearing to the delegation and assured them of all possible help. On this occasion, PDP President urged Lieutenant Governor to intervene in the matter.

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