Cross-LoC trade loss pegged at Rs 80 crore due to suspension

Suspension of cross-Line of Control (LoC) trade for the last 16 weeks has resulted in a loss of over Rs 80 crore, an official said.

Trade across LoC  was suspended due to skirmishes between the Indian and Pakistani  armies since July this year.

“Due to suspension of trade along the LoC, there was a loss of over Rs 80 crore during the period,” custodian of LoC trade (Poonch), Mohammad Tanveer was quoted as saying by news agency  PTI.

Cross-LoC trade and transport facilities between the two divided parts of Jammu and Kashmir were started as a “confidence building measure” by India and Pakistan  and goods worth Rs 1,500 crore have been traded since the start of the facility in 2008.

The cross-LoC bus service via Poonch-Rawalakot road too remained suspended for the last 16 weeks.

Jammu and Kashmir has witnessed the worst skirmishes between India and Pakistan armies along the LoC this year.

 

 

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