Business Archives | Page 99 of 103

Valley’s first multi-level parking lot by June 2016

September 21, 2015 Editor

Residents of the Valley will get some relief from congestion and traffic jams by June next year as the commercial hub of Lal Chowk will get its first multi-parking facility. The parking facility is being constructed by Economic Reconstruction Agency (ERA) at a cost of Rs 26.75 crore. This will be the first-of-its-kind multi-storeyed mechanised parking facility in the state which is being constructed at the Kashmir Motor Drivers Association (KMDA) bus stand. The project, which received much hype from the former government, missed its first deadline on February 23,…

Beef and meat bans cast shadow over Eid-ul-Azha

September 19, 2015 Editor

With hundreds of families across the country preparing Eid-ul-Azha in the last week of September, the ban on sale of meat, including beef, has come as a huge setback for the traders who were expecting a good business during the festive season. Akbar Qureshi, a meat trader in the Mankhurd area of Mumbai, is a worried man since the ban on beef came into force in Maharashtra in March this year under the Maharashtra Animal Preservation (Amendment) Act, 1995. Since then, he has been able to sell very little buffalo…

Banks not lending enough in J&K: Drabu

September 18, 2015 Editor

‘ARC to purchase bad loans to encourage banks increase advances’ Finance Minister, Dr Haseeb Drabu today said that Jammu and Kashmir State Financial Corporation (J&KSFC) shall be turned into an Asset Reconstruction Company (ARC) that can purchase bad loans from various financial institutions operating in the state. Dr. Drabu, who was speaking at the 55th Annual General meeting of shareholders of J&KSFC, said that the move will go a long way in improving credit flow into the state. “There are around 45 banks and financial institutions and majority of them…

Minister calls for e-commerce to promote handicraft sales

September 17, 2015 Editor

Chander Prakash, Minister for Industries and Commerce and JKHC Chairman, visited the Kashmir Government Arts Emporium and took stock of its functioning here today. He inspected various handicraft items displayed for sale at its showroom, including silk carpets, pashmina and woollen shawls, readymade garments, silk saris, chain stitch rugs, ‘numdas’, paper machie, leather goods, metal machie, walnut wood, furniture items and jewellery items. Impressed with the quality and design of the products, the minister appreciated the craft and work of the local artisans. The minister stressed upon officials concerned to…

Despite High Court order, sale of beef continues

September 16, 2015 Editor

Two dozen eateries on Food Street continue to serve beef dishes Even as the J&K Government has shifted one of its senior attorney’s for failing to defend it in the “beef ban case”, the effect of the ban is no where visible on streets of Srinagar where sale of beef dishes continues unabated. Nearly two dozen food joints on the Food Street, just opposite the famous Ghanta Ghar in the Lal Chowk area, continue to serve beef dishes to customers, ranging from poor to middle class, rural to urban and…

No policy for economic recovery, rue experts

September 16, 2015 Editor

With a comprehensive financial package for Jammu and Kashmir yet to take practical shape, the Centre and the state government have come under attack from economists and the business community for not formulating a concrete policy and planning the state’s economic recovery after the devastating floods a year ago. They believe that both the governments have failed “to capitalise a big opportunity” to bridge the gap between the ruling class and the public in the aftermath of the devastating floods. “The state and the Centre have failed to capitalise the…

Kashmir Safer for Banks than UP: HDFC Chief

September 15, 2015 Editor

‘Africa has worse infra but draws huge tourists’ Stating that Kashmir is safer banking destination than Uttar Pradesh, the managing director of HDFC bank, Dr Aditya Puri Monday said bankers don’t face kidnapping cases in valley like in UP. Dr Puri was speaking while interacting with a group of traders, hoteliers and other players after re-launching the bank’s MS Mall branch in Srinagar which was affected by floods. He said the digital banking has the changed the whole concept of banking. “We launched it keeping the urban spaces in mind,”…

Ladakh Tourism Festival from Sep 20

September 15, 2015 Editor

JK Tourism Department is going to organize Ladakh Festival from 20th to 27th September 2015 at Leh. The 8 day event will showcase the rich tourism heritage of Ladakh region. Secretary Tourism, Farooq Ahmad Shah reviewed the arrangements being made for the Ladakh Festival in a meeting, he chaired here. He said the inaugural function will be held on 20th and it will conclude on the World Tourism Day i.e 27th September. Apart from showcasing the tourism products of Ladakh region, the festival will also witness Handicrafts exhibition, Thangka Exhibition,…

Rs 2,000 crore will be spent on road network: Mufti

September 12, 2015 Editor

Chief Minister Mufti Mohammad Sayeed today promised the people of a new dawn in Jammu and Kashmir and said the objective of forging an alliance with the BJP was to bring in equitable and balanced development of all three regions of the state. The Chief Minister said Prime Minister Narendra Modi was aware of the pains and problems of the residents of Jammu and Kashmir. Addressing party workers at a one-day party convention in Udhampur today, Mufti Sayeed hoped that the Central and the state governments would work more effectively…

Traders’ body flays govt for imposing tax on chopper service to Vaishno Devi

September 11, 2015 Editor

The Kashmir Traders and Manufacturers Federation (KTMF) today alleged that J&K was being subjected to “tax terrorism” and the government was “harassing” flood-hit traders by levying service tax on chopper service to the Vaishno Devi shrine. “The government has subjected the state to tax terrorism. On the one hand, the Sales Tax Department has started harassing flood-hit Valley traders through undue crackdown on shopkeepers and on the other hand, service tax is being levied on pilgrims,” KTMF president Haji Mohammed Yasin Khan said in a statement. He said these developments…