Thursday, July 29, 2010

Kashmir traders suffer losses due to demonstrations

July 27: The disturbed conditions in the Kashmir valley has led to business losses to wholesale traders in the state. Due to the ongoing turmoil in the valley, the traders are unable to receive their payments on time; consequently, they are unable to pay back their bank payments against which they have raised their loans.The Jammu Fruit Market, which is considered one of the biggest markets of Asia for fresh fruits and dry fruits, is deserted."We have given Rs 600 to 700 million in advance to receive goods from Kashmir. Accordingly, there must be arrival of 25 to 30 trucks daily but due to the ongoing strikes in the valley, there are only two to three trucks arriving. How will we get the value for the money we have given already in advance in Kashmir?" said Praveen Kumar Gupta, President of the Jammu Fruit Association.The laborers are the worst sufferers, as they are dependent on their daily wages from the market. Earlier, 25 to 30 trucks used to arrive in a day in this season, but now, there are only three to five trucks.Traders have already loaded some trucks with processed items but are unable to send them to their destinations in the valley due to the disturbances, strikes and curfews."The problem which is currently going on in Kashmir has engulfed everyone, from labourer to the business class. If in one shop 20 people are working, ultimately they all are in loss. If one truck is loaded, we use to pay 300 rupees to a labourer only when we received the payments. But some of our trucks, which were loaded before curfew was imposed, we haven't received any payments yet," said Naresh Gupta, Vice-president of the Traders Federation Ware House of Jammu.

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