SRINAGAR, Nov 18:
The much hyped cross LoC trade is on a steep decline with most traders losing confidence and wealth in the trade.
Sources said an initiative taken in 2008 for the cross border trade had 400 traders involved in it which has now come down to mere 30.
“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.
General Secretary Joint Chamber of Cross LoC Trade, Hilal Turki said that in 2008 various traders applied for the loan and indulged in the cross trade and the number of traders had exceeded to 600.
“We’ve been demanding communication facilities across the border for the trade purposes and Home Minister Sushil Kumar 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 Rs 1.25 cr profit”, he added.
“Authorities in India and Pakistan are eagerly waiting to see the cross border trade dying that is why they’re not serious about the bank, communication and other required facilities needed for the trade”, alleged Turki. (KNS)
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