Centre asks J&K trade bodies to submit preliminary report on business losses

Union Industries and Commerce Minister Piyush Goyal has asked the trade bodies of Jammu and Kashmir to compile a preliminary report on losses incurred by the businesses due to uncertainty and internet blockade post abrogation of J&K special status under Article 370.

According to sources, the union minister held meetings withthe heads of industries and commerce bodies from both Jammu and Kashmirdivisions, who were invited for by the central government to deliberate on theissue of business losses due to uncertainty post August 5. 

   

Goyal, who also holds charge of Railway Ministry, gave apatient hearing to the trade representatives and asked them to compile apreliminary report on losses and submit it to the J&K Government.

Representatives of Kashmir Chamber of Commerce and Industriesand other trade bodies from Jammu were also part of the meeting.

Speaking to Greater Kashmir over phone, PresidentKCCI, Sheikh Ashiq said that they apprised the central government of the lossesbeing incurred due to prevailing uncertainty in the valley coupled withinternet blockade which caused huge losses to IT, tourism and handicraftsectors.

“He asked us to share our problems with the centralgovernment. KCCI, which has already estimated the losses, presented them to theminister. According to our estimate Kashmir’s economy so far has incurred Rs15000 crore losses,” Ashiq told Greater Kashmir over phone.

“The minister told us to submit this preliminary report tothe J&K Government. He also asked us to compile the loss figures inhandicraft, IT sectors caused due to internet blockade separately,” he said,adding that the representatives from J&K also raised the issue of theinternet blockade with the central government.

Ashiq said that the minister assured them the centralgovernment would come to rescue of the beleaguered economy of J&K which hasbeen battered due to uncertainty prevailing in Kashmir post-abrogation ofspecial status of erstwhile state of J&K.

Another industrialist who was part of the meeting said thatthe minister assured them of all possible help in bringing back J&K’seconomy on track.

Central government on August 5 abrogated J&K specialstatus and bifurcated erstwhile state into two Union territories of J&K andLadakh. Since then Kashmir’s economy is under distress while tourist influx tothe Valley is witnessing drastic decline at the same time uncertainty leadingto business losses in other sectors of the economy.

Recently during a question answer session in the Parliament,the Union Government had stated that they have no figure on losses incurred bybusinesses in J&K post abrogation of Article 370.

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