The Federation of Chambers of Industries Kashmir (FCIK) in Indian illegally occupied Jammu and Kashmir has denounced the deafening silence of the authorities over the harassment and intimidation of entrepreneurs by J&K Bank.
According to Kashmir Media Service, the FCIK in a meeting under the chairmanship of Ghulam Mohammad Tramboo decided to observe a symbolic one-hour peaceful protest inside industrial estates across Kashmir valley, tomorrow.
The participants of the meeting unanimously rejected the contention that the authorities had no role in the matter and that the bank was free to follow its standard operating procedures (SOPs) under draconian Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act after completely putting a blind eye to immense sufferings and perpetual losses of the entrepreneurs in the wake of turbulent conditions and natural calamities over more than three decades.
Reminding the authorities of their own policy for revival and rehabilitation of sick industry, the meeting regretted that the situation would not have reached to the present imbroglio had the government seriously acted upon the policy.—INP
