SRINAGAR: The power crisis in the valley continues to escalate, severely affecting the industrial sector and resulting in a staggering 75 percent decline in production, claim industrialists.
For over a month, the valley has been grappling with a power crisis, impacting both domestic and commercial consumers.
Shahid Kamili, President of the Federation Chamber of Industries Kashmir said that the current power scenario has exacerbated the challenges faced by industrialists.
“The impact of the current power scenario on the industrial sector is beyond imagination. We have limited working hours during the winter seasons, and the absence of electricity is complicating our problems,” he said.
Kamili reported a 75 percent decline in production in the industrial sector, adding that many industries are on the brink of becoming Non-Performing Assets.
“When there is no output, the industries won’t withstand the shock of reporting spontaneous losses. The industrialists are working on cost-competitiveness. They are failing to manage installments for loans,” he explained.
Using sawmills as an example, Kamili mentioned that over 500 such units are currently affected in the valley. “We have almost 500 sawmills registered with the federation. We often hear about the losses being faced by them. Apart from these industries, we have many units, including cold storage, diagnostics, and others, which also report heavy losses,” he said.
Industries particularly affected, according to Kamili, include cold storage, apple grading and packaging industries, and furniture industries.
The Kashmir Chamber of Commerce and Industries (KCCI) revealed that they regularly receive SOS calls from various industries suffering due to the lack of proper power supply.
“From hospitality to cottage industries, the power situation has deeply affected the service sector. Neither industrialists nor small traders are able to manage their businesses due to the unscheduled power cuts,” said Secretary-General KCCI Faiz Ahmad Bakshi.
He stated that they are now seeking intervention from Lieutenant Governor Manoj Sinha regarding the issue.
“Every sector is suffering. We seek the intervention of Lieutenant Governor Shri Manoj Sinha to improve the power situation in Kashmir,” Bakshi said.