Updated on Jul 11, 2020 14:42:02

 

Kashmir business has run over Rs 12000 Crore losses since August 5 : KCCI

A single day of shutdown causes Rs 125 Crore loss to business, Govt must take responsibility of losses inflicted on business community, says KCCI president

5 Dariyanews

5 Dariyanews

5 Dariya News

Srinagar , 19 Nov 2019

In a significant development, Kashmir’s leading trade body—Kashmir Chamber of Commerce and Industry (KCCI) has figured out the losses up to the tune of over Rs 12000 Crore that the Valley has suffered due to the three-month long shutdown triggered by the revocation of Article 370 and bifurcation of erstwhile state into two Union Territories (UTs).Since August 5, Kashmir witnessed spontaneous shutdown that was coupled with the intense restrictions across Kashmir. The trade body has done a preliminary survey of losses that the Valley has suffered due to the uncertainty and shutdowns that lasted for over 100 days.In an exclusive chat with the wire service—Kashmir News Observer (KNO),   KCCI president Sheikh Ashiq Hussain said that the Valley has registered huge losses due to the shutdown since August 5. “The loss figure is over Rs 12000 Crore. The three-month long shutdown has caused a huge dent to the Kashmir’s business community and the overall business,” he said. “We want now that the J&K administration must take the responsibility for the huge losses caused to us due to the shutdown and restrictions.” He said what added more to the losses is the internet gag, suspension of mobile phone services and SMS services.  “A single day of shutdown in Kashmir results in the loss to the tune of Rs 125 Crore,” he said. “Every kind of business was hit badly in Kashmir since August 5 and yet no one is taking responsibility for it.” Asked whether they wanted the J&K government to announce a compensation for the business community, Hussain said that it was not the question of compensation as irony is that J&K government has not even uttered a word about the losses suffered by the business community.Hussain also told KNO that the export business in Kashmir went down by 50 per cent due to the internet gag and suspension of mobile phone services since August 5. He, however, said that they are finding out how many salesmen lost their job due to three-month long shutdown. (KNO)

 

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