Amarnath land row cost Kashmir valley over 90 billion rupees

September 3rd, 2008 - 8:50 pm ICT by ANI  

By Parvez Butt
Srinagar, Sep.3 (ANI): Over two months of protests, curfews and shutdowns caused due to secessionist leaders agitations in the Kashmir Valley over the Amarnath land row issue cost according to an estimate over 9,000 crores (90 billion rupees).
The whopping will have a long-lasting effect on the Kashmir economy.
The worst hit sectors include tourism, fruit, hosiery, carpets, handicrafts, dry fruits, and forest-based herbal products.
In the last one-and-a-half months, exports fell by at least 80 percent because of the agitation, which has brought the movement of goods, particularly fruits, to a virtual halt.
According to the President of the Federation of Chamber of Industries, Shaqeel Qalandar, the “Kashmir valley loses 150 crores per day which makes it 9,000 crores for the two months of agitation”
The local traders here are demanding that the Central Government should pay for their losses.
Agitations of this nature discourage investors and therefore, peace and tranquillity must prevail in the State to ensure that its industrial prospects are not derailed.
According to a recent survey done by the Associated Chambers of Commerce and Industry of India (Assocham), Jammu and Kashmir, was poised to attract fresh investment volume of Rs.280 billion by 2012, including export orders of around Rs.130 billion.
Earlier, in a communique released from Jammu it was stated that the agitation caused the Jammu suffer losses worth 9,980 crores (99.80 billions)Tourism (3,050 cr.), Agriculture (980 cr.), Transport and Automobile (750 cr.), Trading activities (1,150 cr.), Industry including crushers and hot mixures (4,050 cr.). (ANI)

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