Srinagar, Jul 21: The Kashmir Chamber of Commerce & Industry (KCCI) has welcomed Chief Minister Omar Abdullah's assurance that traders whose shops, business establishments and goods were damaged due to waterlogging during the recent rains in Srinagar will be adequately compensated. In a statement, the Chamber said the announcement provides much-needed relief to the affected trading community, which suffered significant losses as several commercial areas remained inundated following a couple of hours of rain. KCCI also welcomed the Chief Minister's decision to subject the Smart City projects to a third-party audit. The Chamber said it has consistently been advocating for an independent technical audit of the inadequately designed drainage and stormwater network, as recurring incidents of waterlogging have exposed serious shortcomings in the planning, design and execution of the drainage infrastructure. The Chamber reiterated that a comprehensive technical audit should not be confined to the faulty Smart City projects alone but should extend to the entire drainage network across Srinagar and other urban centres in Kashmir. It said the Government must undertake a scientific assessment of the existing drainage infrastructure, identify the gaps in it and implement a comprehensive upgradation plan to ensure that cities are equipped to handle increasingly intense rainfall events. KCCI further stressed that every major infrastructure and urban development project undertaken by the Government should be preceded by a comprehensive Environmental Impact Assessment (EIA) and all necessary environmental clearances. Development projects, it said, must be in harmony with the region's natural drainage systems, rivers , wetlands, water bodies and ecological landscape, rather than disrupting them. The Chamber observed that the increasing frequency of flash floods, urban flooding and extreme weather events clearly demonstrate the growing impact of climate change on Jammu & Kashmir. This makes it imperative that all future planning incorporates climate resilience, scientific hydrological