Srinagar, Jan 11: Every time there is a hike in oil prices, it spreads consternation in the traders and consumers alike; but in the Valley the hike affects more.
 According to experts here while the oil price hike affects the overall price level in India, “the impact is felt more in ‘net import’ states and the Valley.”
 “Since the Valley is a net importer, the oil hike impact is felt here more because the imports come through road transport.”
 Abdul Hamid, an importer, said every fuel hike strikes a blow to the “already ailing trade and commerce in the Valley.”
  “We are already burdened with so many things that we are going through, so every fuel hike adds to our burden,” he said.
 According to experts apart from trade and commerce, the fuel hike affects the fledgling industry in Kashmir more badly. “We have a very small industry base majority of which imports raw material from different parts of India. This material comes in trucks to the Valley,” said Showkat Ahmad, an entrepreneur.
 He said whenever there is hike the raw material becomes dearer for Kashmir which is a landlocked place.
 He said: “With the raw material becoming dearer, the products being produced in Kashmir become uncompetitive.”
 He said the government in the state can take care of the industry as well as trade by reducing some of the taxes it imposes on the oil.

Lastupdate on : Tue, 11 Jan 2011 21:30:00 Makkah time
Lastupdate on : Tue, 11 Jan 2011 18:30:00 GMT
Lastupdate on : Wed, 12 Jan 2011 00:00:00 IST