President, Kashmir Chamber of Commerce and Industry (KCCI), Javid Ahmad Tenga, called on Lieutenant Governor Manoj Sinha at Lok Bhawan here on Wednesday and apprised him of key issues impacting trade, commerce, industry, tourism and the overall economic environment in Kashmir.

At the outset, Tenga presented a comprehensive overview of the prevailing business scenario in the Valley, stating that several sectors continue to face structural and policy-related challenges. He said that despite the resilience shown by the business community, there is a pressing need for targeted interventions to restore confidence, improve liquidity and ensure sustainable growth.

A major issue raised during the meeting was the need for a long-pending special One-Time Settlement (OTS) scheme for borrowers in line with MSME norms. Tenga urged the Lieutenant Governor to facilitate necessary directions, noting that many businesses remain financially stressed due to accumulated liabilities over the years.

He also raised concerns over the practice by banks of “naming and shaming” borrowers through public notices, describing it as socially counterproductive and detrimental to already distressed entrepreneurs. He said such measures damage reputations and deepen the socio-economic distress of business families, and called for immediate intervention to halt the practice.

The discussion also focused on the New Central Sector Scheme (NCSS). While acknowledging its importance in attracting investments, Tenga pointed out that the initial outlay of ₹28,400 crore had been exhausted by September 2024. The absence of incentives since then, he said, has created uncertainty among investors and slowed new proposals. He urged that the allocation be enhanced to ₹75,000 crore to sustain industrial momentum, and proposed that at least 25 per cent of the enhanced outlay be earmarked for entrepreneurs from J&K.

Tenga also stressed the importance of tourism promotion, describing it as the backbone of the region’s economy. He called for a structured promotional strategy, improved infrastructure and stronger policy support to maximise the sector’s potential and generate employment.

The Lieutenant Governor gave a patient hearing to the issues and assured that the concerns would be examined on priority and appropriate steps taken.

Tenga was accompanied by Executive Committee member Zubair Mahajan during the meeting.