Cross-LoC trade a CBM, hope for its early resumption: Pakistan

Pakistan on Thursday condemned the unilateral suspension of trade by India across the Line of Control and expressed hope that it resumes soon as the step is a “confidence building measure” between the two nations.

Hardening its stand against Pakistan, India last weekindefinitely suspended cross-LoC trade at two points along the Line of Controlin Jammu and Kashmir, following reports that it was being “misused” by elementsfrom across the border to smuggle weapons, narcotics and fake currency.

   

Foreign Office spokesperson Mohammad Faisal condemned theunilateral suspension of the trade by India and said, “We hope that trade isresumed soon, as it is a confidence building measure between the twocountries.”

The trade was halted at Salamabad of Baramulla in Kashmirregion, and Chakkan-da-Bagh of Poonch district in Jammu region.

The cross-LoC trade on Srinagar-Muzaffarabad andPoonch-Rawalakote routes was started on October 21, 2008 as a ConfidenceBuilding Measure (CBM).

Trade since 2008 till the 2017 fiscal stood at over Rs 4,400crore at the Uri trading centre, while the figure for the same period at Poonchstood ar Rs 2,542 crore.

Initially, 646 businessmen from Jammu and Kashmir hadregistered for trading in the two crossing points, but the number now stands ataround 280, who are actually involved in conducting the business.

When the cross LoC trade started, initially the business wasfor two days but from October 15, 2011, trading days were extended to four.

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