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10-17-2019     3 رجب 1440

On-going turmoil brings Raj Bagh Silk Factory to verge of closure

October 09, 2019 | BK NEWS DESK/SRINAGAR

The ongoing uncertain situation in Kashmir has virtually brought Raj Bagh Sikh Factory on the brink of closure. Like other sectors in Valley, this Silk Factory has also incurred huge financial losses from past two months.
Kashmir has been witnessing a continuous shutdown against the abrogation of Article 370 and due to uncertain situation, every sector of society has faced the burnt.
This largest silk outlet in the world is witnessing a silent death not only due to continuous spontaneous shutdown but also due to official apathy.
This historical factory which started functioning from 1939 during the rule of Maharaja Hari Singh was already in deep financial crisis while the uncertain situation in Kashmir has added to its troubles. “It was already on the verge of collapse in 2014 after floods devastated it. But this time, it has almost died,” said an employee to Kashmir News Trust.
He said that its production capacity has drastically come down while most of looms installed in the Factory are non-functional. “Leave aside the production and profits, even employees are not given salaries in time. Over the years, around 80 kanal land that Factory possessed has been sold to pay salaries to the employees and now only 24 kanal is with the Factory,” he said. (knt)

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On-going turmoil brings Raj Bagh Silk Factory to verge of closure

October 09, 2019 | BK NEWS DESK/SRINAGAR

The ongoing uncertain situation in Kashmir has virtually brought Raj Bagh Sikh Factory on the brink of closure. Like other sectors in Valley, this Silk Factory has also incurred huge financial losses from past two months.
Kashmir has been witnessing a continuous shutdown against the abrogation of Article 370 and due to uncertain situation, every sector of society has faced the burnt.
This largest silk outlet in the world is witnessing a silent death not only due to continuous spontaneous shutdown but also due to official apathy.
This historical factory which started functioning from 1939 during the rule of Maharaja Hari Singh was already in deep financial crisis while the uncertain situation in Kashmir has added to its troubles. “It was already on the verge of collapse in 2014 after floods devastated it. But this time, it has almost died,” said an employee to Kashmir News Trust.
He said that its production capacity has drastically come down while most of looms installed in the Factory are non-functional. “Leave aside the production and profits, even employees are not given salaries in time. Over the years, around 80 kanal land that Factory possessed has been sold to pay salaries to the employees and now only 24 kanal is with the Factory,” he said. (knt)


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Owner, Printer, Publisher, Editor: Farooq Ahmad Wani
Legal Advisor: M.J. Hubi
Printed at: Abid Enterprizes, Zainkote Srinagar
Published from: Gulshanabad Chraresharief Budgam
RNI No.: JKENG/2010/33802
Office No’s: 0194-2451076, 9622924716 , 9419400056
Postal Regd No: SK/135/2010-2019
Administrative Office: Abi Guzer Srinagar

© Copyright 2018 brighterkashmir.com All Rights Reserved.