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| Jammu business suffers collateral damage due to valley turmoil | | | Early Times Report
Jammu, Aug 16: In its simultaneous damage collaterally affecting the whole state of Jammu and Kashmir, the valley turmoil has started showing its teeth against the business prospects.
The major business transactions that used to be conducted between both the regions has suffered heavy losses, with not an iota of reprieve likely in sight for the upcoming days also.
Since the tension erupted in the valley with the death striking its first blow on June 11, the entire system of business collapsed both ways with hope of any resurrection becoming remote and now almost obsolete.
The payments that used to exchange healthy hands among both the business classes pertaining to Jammu and Kashmir now are skeptical of receiving even the basics put in by the both as heavy losses have been incurred on both the sides with every kind of corporate transaction having coming to standstill.
Though good business was used to be transacted post June 11 when the first death occurred in valley, the cycle of protests started thereof have left Jammu businessman high dry for not being able to receive any payment from the Kashmir based traders on the pretext over the situation there being hopeless. Several reminders and urgent calls made by them to their business clients have yielded little results.
As normal life remained crippled and business establishments remained shut for longer durations, except for small breathers when the shops were allowed to be opened even hardline Hurriyat conference leaders' diktats, the Kashmir has lost the entire tourist season incurring huge losses.
The businessmen when faced with question of returning money for goods sent from Jammu often take advantage of the volatile situation and reply back claiming that they are already suffering huge crisis and hence are not in condition to make payments under extra ordinary circumstances.
The economy in rural Kashmir has been worst hit as well. The fresh fruit could not reach markets outside the state due to strict curfew restrictions and absence of suitable arrangements to send their goods across.
According to rough estimates, in the last two months the Jammu based businessman have incurred losses to the tune of several hundred crores of rupees and they see no hope in sight in the near future to make up for the losses.
Representatives of the Jammu based trader and business organisations have apprised the state government with their genuine concerns especially quantum of pending payments to ensure adequate compensation in lieu of losses incurred by them.
The businessmen presented the argument in front of the govt representatives by claiming that if the centre govt is working out to offer a sizeable package to Kashmiri businessmen their claims should not go unnoticed as they are suffering equally and more than the Kashmir based traders as they have not received any payments for goods transacted during the period of turmoil. |
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