Tassaduq Hussain
Srinagar: The Salamabad Cross LoC Trade Association (SLTA) on Wednesday said that people involved in the cross LoC trade were on the verge of collapse and starvation as around Rs 500 crore have been lost since the trade was suspended last year in April by the government.
Chairman Salamabad Cross LoC Trade Associatiom, Hilal Turkei, said that an estimated Rs 5780 crore turnover was generated since the commencement of trade back in 2008 till its suspension last year in April.
Turki told news agency—Kashmir News Observer (KNO), that the annual loss suffered since the suspension last year in April is around 500 crore rupees, with traders and people linked to it on verge of collapse.
He said the cross border trade between India and Pakistan started on 21 October 2008 and was shut last year on March 7 after some issues but on 18 April a formal notification was issued by government of India stating that the trade across all trading points in J&K must be shut as new mechanism has to be set-up for the same.
Turki estimated the revenue generated in past 11 years around Rs 5780 crore. He said the traders since the suspension have suffered huge losses as a large number of firms were involved with it and thousands of people were earning their livelihood from it including the truckers, labourers, representatives, mandis, transport, petroleum and notified committees in towns.
He said 63000 truck loads were engaged for the process and they have provided at least 1,70, 000 job days at Rs 800 per day to labour class, which is a handsome earning.
He said that not only the locals but people from Jammu, Rajouri and other parts of J&K were involved in the trade as it provided jobs to the people living in off-site areas who had no other source of avenues to earn.
“Even the educated un-employed people were involved in this trade to earn their livelihood and they are worst victims of the trade suspension”, he added.
People involved in cross border trade are on the verge of starvation and if the suspension continues all may have to sell-out their assets including the homes to pay the bank instalments and the money borrowed from market, he said.
He said that over the years trade included the export of fresh fruits, species, embroidery items, herbal medicines and in return they imported dry fruits, fruits, matting embroidery and other things including vegetables.
“After the suspension of trade by Ministry of Home Affairs (MHA), it had assured to come up with new improved mechanism for cross LoC trade in backdrop of people quizzed and investigated about various issues”, he said.
He requested the government of India to come up with foolproof mechanism and come up with guidelines and standard operating procedure (SOPs) so that the trade commences atbthe earliest without further delay and loss to the people.
Overall business avenues are at a grinding halt amid this pandemic and it is high time to commence the trade so that the economy also gets boost at an earliest, he said. —(KNO)