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| Govt facilitating Reliance stores, killing local economy: Mehbooba | | |  Early Times Report
Srinagar, Apr 2: A delegation of Kashmir Distributors Association (KDA) office bearers today called on People’s Democratic Party (PDP) President Mehbooba Mufti and apprised her about the reports of government facilitating the opening of Reliance Jio-Marts across Kashmir valley.
The delegation highlighted the ramifications of the said move which can systematically decimate their sales, destroy their market share and pulverize the local economy.
“ Competing with behemoths like Reliance having deep pockets, logistical advantages and facilitation by the system is simply not possible for us and will eventually destroy us. Majority of us get working capital from banks and run on cash credit accounts,if our market share is destroyed we will default and these corporations will act as ‘Vulture Capitalists’ and devour us,” the delegation emphasized.
Acknowledging the concern of the delegation Mehb |
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