Muhammad Rajab Kochay nominated President KTMF

Separate financial institution need to take trade out of crisis / KEA

Srinagar, June 13:(KNS)  Kashmir Traders and Manufacturers Federation (KTMF) has nominated senior trade leader Muhammad Rajab Kochay as its new president, while the Kashmir Economic Alliance has suggested setting up a separate financial institution to take trade out of the current financial crisis.


During a press conference in Srinagar, Kashmir Traders and Manufacturers Federation (KTMF) nominated Mohammad Rajab Kochay as the new president, saying that the elections could not be held due to the covid 19 epidemic. Fayaz Ahmed Bhat was nominated as Senior Vice President, Muhammad Ayub Laway as General Secretary and Nasrullah as Spokesperson. The press conference was attended by Kashmir Economic Alliance Co-Chairman Farooq Ahmed Dar, Chief Spokesperson Muhammad Sidique Ronga, Central Contractors Coordination Committee Secretary Arshad Ahmed BHat and House Boat Owners Association Spokesperson Muhammad Yaqub Doon besides other business leaders.


Addressing a press conference, Mohammad Rajab Kochay said that due to the problems of traders and the crisis situation of the last two years, situation is very grim. He said that in order to strengthen the federation, He will always strive to solve the problems faced by the traders.


 On the occasion, Co-Chairman of Kashmir Economic Alliance (KEA) Farooq Ahmed Dar said that the effort he had started a year and a half ago to unite the business community would continue and progress would be made soon. Dar said trade had incurred a deficit of Rs 50,000 crore in the last two years, and a separate financial institution was needed to revive the trade sector, which would not only help traders out of the current crisis,but in the future, they will not have to go to anyone with a coffin. Advocating for a financial package for traders, Dar said that the small traders, industrialists, fruit traders, transporters and construction workers, contractors are in worst position, and I government should hold the hand of these traders.(KNS) 

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