KIRDF castigates SIDCO for issuing Demand Notice

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By Fast Kashmir on 20/03/2017. 2 Comments

KIRDF castigates SIDCO for issuing Demand Notice

Srinagar, March 20: Kashmir Industrial Revival and Development Forum has taken a serious note of the demand notice issued in some local dailies under attention ‘Soft Loan Borrowers of J&K SIDCO.’

     In this regard a meeting under the chairmanship of Muhammad Shameem Nowsheri and President Abdul Gani Parray was held that besides General Secretary Abdul Aziz Ganie was attended by all office bearers.

     During the meeting it was resolved that a strong message should be send to the J&K SIDCO that has first betrayed the suffered entrepreneur by issuing the said demand notice of so called soft loan, though government has assured the forum during the discussion held with the concerned Civil Secretariat  heads regarding adjustment/repayments of the controversial soft loan be looked into and a report was demanded by the Commissioner Secretary Industries and Commerce from J&K SIDCO recently. The said demand notice according to Kashmiar Industrial Revival and Development Forum has lowered the honor of the suffered entrepreneur of Kashmir Division being on revival track after the closer.


      It was further stated during the meeting the since the issue regarding the implementation of rehabilitation scheme which become controversial for unauthorized diversion of interest subsidy being Government funds earmarked for incentives to such units but disbursed as soft loan by the SIDCO is also under challenge before the High Court at Srinagar under OWP/74 of 2016.  The same is subjudice as such the action to issue the demand notice is illegal and unauthorized only to haras the suffered entrepreneur community of the Kashmir Valley besides demand notice has been issued against the persons who have approached the Court only to punish and harass them.

     During the meeting it was decided to approach the department and apprise them about the implication of the demand notice which is acted upon sufferers along with their families will hit to roads and demand justice in case any untoward happens, SIDCO will only be held responsible for the same. (CNS)

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