Kashmir Braces for Chaos as Cash Crunch Hits Government Treasuries Ahead of Eid

Kashmir Braces for Chaos as Cash Crunch Hits Government Treasuries Ahead of Eid

Reduced cash flow just ahead of the upcoming Jumat-Ul-Vida, Shab-e-Qadr and Eid Ul Fitr at government treasuries has pushed people into a state of chaos, confusion and anxiety across Kashmir.

Though it is a decades old practice of the Jammu and Kashmir government that cash flow is unprecedentedly increased on the occasion of Eid a for the release of even advance salaries to government employees and payments to contractors and suppliers but with hardly few days left for Jumat-Ul-Vida, Shab-e-Qadr and Eid Ul Fitr allegations are galore that bills are pending in the treasuries for release of payments but are not cleared due to shortage of cash at the Government treasuries across Kashmir.

Notably, contractors on Monday protested across the Valley against unprecedented delay in the release of the payments, while reports coming from various districts also indicate that employees too are not sure about the release of their salaries before Eid which otherwise is also due to them in the first week of April.

Though the payments for the works completed by the contractors should have been cleared by March end to keep up the decade old practice of clearing all pending payments before the closing of the financial year but despite the completion of all the formalities, payments are not released obviously due to cash crunch at the treasuries across Kashmir.

Not only the contractors but government employees and others who are deeply concerned over the delay in the payments at the treasuries as few days are now left for festive occasions and moreover apprehensions over the probabilities of funds getting lapsed are also there for the very right reasons.

The deepening concerns of the contractors, suppliers and government employees over the reduced cash flow and funds lapse issues deserve and demand immediate attention and intervention of both the chief secretary and as well as principal secretary finance for hassle free disbursement of payments.

Related posts