Goods Worth Rs 424 Cr Traded Across LoC

Srinagar – Goods worth Rs 424 crore have been exchanged in cross-Line of Control (LoC) trade through Salamabad centre in Baramulla this financial year.

Goods worth Rs 424 crore were traded at Salamabad on Uri- Muzaffarabad road, a meeting chaired by Industries and Commerce Minister S S Slathia was informed yesterday.

Slathia visited the Trade Facilitation Centre at Salamabad and reviewed the operations there, an official spokesman said.

While goods worth Rs 172 crore have been exported to Pakistan-occupied Kashmir (PoK), this side of the LoC imported goods worth Rs 252 crore, the spokesman said.

The cross-LoC trade is conducted on barter basis with no communication or banking facilities for the traders from the two sides. There are only 21 items that can be traded on this route.

The Minister was informed that the TFC at Salamabad has been established with the financial assistance from the centre to the tune of Rs 8.75 crore.

The infrastructure so far created includes import and export cargo examination halls, two rummages, weigh bridge, fumigation centre, administrative block and a rest room for drivers from across LoC.

Slathia was informed that the administrative approval for the project was granted by the state government in March 2011 and the project is in final stage of implementation and all the facilities would be ready by end of October this year.

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