J&K: Omar Abdullah faces PDP fire over central loan scheme

JAMMU: PDP slammed J&K’s Omar Abdullah-led National Conference (NC) govt on Monday for tapping the Centre’s Special Assistance to States for Capital Investment (SASCI), calling it the “most dangerous scheme” after the abrogation of Article 370.

The scheme provides 50-year interest-free loans for capital investments and infrastructure, besides offering financial incentives for reforms in key sectors.

Speaking during the assembly’s budget session, PDP legislator Waheed Parra accused NC of betraying its mandate. “Why are you taking loans under this scheme? Who will repay these loans after 50 years?” Parra asked CM Omar, who was present in the House, in an emotional speech.

Omar had in his budget speech last week revealed that J&K was brought under SASCI last year, saying his govt had “proactively leveraged this new opportunity”. “This reflects the confidence of Govt of India in reform orientation, financial discipline, and execution capacity of J&K,” Omar had said.

However, Parra questioned SASCI’s benefits, pointing out that unlike the earlier MGNREGA rural job scheme, these funds are not a grant but a “market loan”.

“If you are constructing roads, bridges and playgrounds under SASCI, you are effectively putting J&K under mortgage. You are putting J&K on sale. SASCI means destruction of J&K and you have brought it without consultation,” Parra argued, his voice getting louder and riling NC members.

The Pulwama MLA urged Omar to allow a debate on the scheme. “It is a death trap. It (problems from similar loan schemes) happened in Bangladesh and Pakistan. We are selling J&K for petty loans. Who will repay this loan after 50 years, and who gives loans for free?” Parra asked.

Parra went further with his criticism of the scheme. “BJP is not your alliance partner. So, on whose behest you are bringing this? Why are you taking a Rs 50,000-crore loan for free?” he asked.

Later, Speaker Abdul Rahim Rather ordered an inquiry into whether Parra had used an additional microphone to amplify his voice, which Omar and NC members claimed kept getting louder.

Select The Times of India as your preferred source on Google Search