Cross LoC Trade On Verge Of Closure

0Shares

Number of Traders Comes Down to 30 from 400

SRINAGAR – The much hyped cross LoC trade is on a steep decline with most traders losing confidence and wealth in this the process of the trade.

Sources said, an initiative taken in 2008 for the across border trade had 400 traders involved in it which has come down to mere 30 now.

“Trade across the border was initiated in 2008 opening the doors at various places as a confidence building measure. It is on verge of closure as the number of traders has declined from 400 to 30”, sources said.

Talking to KNS, General Secretary Joint Chamber of Cross Loc Trade, Hilal Turki said that in 2008 various traders applied for the loan and indulged in the across trade and the number of traders had exceeded to 600.

“We’ve been demanding communication facilities across the border for the trade purposes and Mr. Shinde also assured us of this facility during his last visit to Kashmir”, said Turki. “Ban has been imposed on the export of coconuts eight months ago while the export of coconuts had reaped one crore 25 lac profit”, he added.

“Authorities in India and Pakistan are eagerly waiting to see the across border trade dying that is why they’re not serious about the bank, communication and other required facilities needed for the trade”, alleges Turki. Agencies

Be Part of Quality Journalism

Quality journalism takes a lot of time, money and hard work to produce and despite all the hardships we still do it. Our reporters and editors are working overtime in Kashmir and beyond to cover what you care about, break big stories, and expose injustices that can change lives. Today more people are reading Kashmir Observer than ever, but only a handful are paying while advertising revenues are falling fast.

ACT NOW
MONTHLYRs 100
YEARLYRs 1000
LIFETIMERs 10000

CLICK FOR DETAILS


Observer News Service

Leave a Reply

Your email address will not be published.

KO SUPPLEMENTS