Srinagar, Feb 20: The Kashmir Chamber of Commerce and Industry (KCCI) is sounding the alarm about the effects of climate change on the region’s economy. They report an alarming 80% drop in hydroelectric power generation, which is causing significant disruptions in various economic sectors.
Faiz Bakshi, the Secretary General of KCCI, said, “The environmental crisis threatens Kashmir’s economic foundation. We see troubling trends that need urgent attention from everyone involved.”
The KCCI shared that recent climate issues have taken a toll on Kashmir’s economy. One major concern is the drying up of springs and the shrinking of water bodies as summer approaches. This could lead to serious water shortages for homes and businesses alike.
The power industry is particularly affected, as the decline in hydroelectric generation has disrupted both industrial activities and home electricity supply. This situation represents one of the most significant challenges to Kashmir’s power system in years.
Bakshi explained, “The energy crisis is just the beginning. All sectors, from agriculture to tourism, are feeling the impact, threatening countless jobs.”
Tourism, a crucial part of Kashmir’s economy, is facing major hurdles. For instance, the Khelo India Winter Games in Gulmarg were postponed due to lack of snow, impacting adventure tourism and the region’s standing as a winter sports hub. International tourism has also declined, affecting jobs and foreign earnings.
Chief Minister Omar Abdullah has recognized these urgent challenges, stating that Jammu and Kashmir is on the brink of a water crisis, a situation years in the making. His comments have sparked calls for accountability among senior officials who have been in charge during this time.
“Our environmental troubles come from many areas, including deforestation and poor wetland management,” Bakshi pointed out. “We need a plan that tackles both short-term issues and long-lasting sustainability.”
In response, KCCI is launching a comprehensive approach to tackle these challenges. They plan to host programs and seminars with key stakeholders to create and apply strategies for dealing with climate change. The focus will be on practical solutions and sustainable practices.
They also propose forming a high-powered committee led by Chief Minister Abdullah to confront these environmental issues. Furthermore, KCCI is urging for significant funding in the upcoming Jammu and Kashmir Budget to put immediate solutions into effect.
“We can’t wait any longer,” stressed Bakshi. “Every moment we delay makes things worse. We need to take action to secure our environment and economy for future generations.”
KCCI remains committed to balancing economic growth with protecting the environment. They advocate for better conservation of Kashmir’s water bodies, rivers, and lakes, underlining the urgency for immediate protective measures.
“Our goal is clear: we want a future where economic success and environmental health go together. This is not just about business; it’s about the survival and well-being of our whole region.”
