Introduction of Dollar in LoC Trade will Impact Status of JK: KCCI

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Srinagar:-  The Kashmir Chamber of Commerce & Industry (Inc) Wednesday said that it has “noted” the content of statement made by Chief Minister, Ms Mehbooba Mufti on the floor of state Legislative Assembly, with regard to opening more routes for LoC trade and travel with keen concern.

The trade expressed “reservation” on part of the statement that mentions about use of “dollar” as transactional currency for the LoC trade which makes it “ambiguous” as it “tends to tinker” with the of constitutional position/status of the J&K State in terms of Article 370 of the Constitution of India.

“The Chamber expresses its apprehensions about implications of such a move as it will impact on the status of the State for which its people have been making great sacrifices ever since its independence,” a KCCI statement said this evening.

“The move is apt to stir up the sensitivities of the people of the state leading to disruption of public order  which the traders community can no more  afford having suffered great losses in the past.”

The Kashmir Chamber of Commerce & Industry, however, appreciated the Chief Minister’s statement in-so-far as it aims at opening more routes for enhancing the trade/ travel and tourism prospective  intra-Kashmir though it lacks the need for adding more items to 21- trade items list as has been the demand of this Chamber from day one.

“Only opening of more routes cannot serve the purpose unless the trading items are simultaneously increased, and the existing list of 21 items altered with addition of items in demand,” the statement said.

KCC&I pleaded Chief Minister to look at the issue “in right perspective and see that a system is evolved to allow exchange of currencies of the respective countries for conducting the LoC trade before an apparent boon becomes a bane”. “The Chamber would expect and urge the Hon’ble Chief Minister  to appreciate the  concern expressed.”

 

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