Category: Business

Business

Kashmir Calling: Hoteliers slash rates by 30% across Kashmir Valley

Editor

The hoteliers of the Kashmir valley have announced 30 per cent discount for the intending tourists for the coming spring and summer seasons. A Tourism Department official today said the announcement was made during a seminar organised jointly by the department and the Kashmir Hotel and Restaurant Owners’ Federation (KHAROF) in Kolkata. KHAROF president Abdul Wahid Malik said their body had 600 members and the discount was being offered in an effort to boost tourist arrivals to the Valley. “We are announcing 30 per cent rebate on our tariffs so…

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Despite growing demand J&K exploits just 16% of hydro-power potential: Survey

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Jammu and Kashmir has exploited only about 16 per cent of the estimated 20,000 MW of hydro-power potential even as the energy demand has been growing gradually creating a wider demand-supply gap, the state economic survey 2017 said. The estimated hydro-power potential of Jammu and Kashmir is 20,000 Megawatts (MW), of which about 16,475 MW have been identified. “This comprises 11,283 MW in Chenab basin, 3,084 MW in Jhelum basin, 500 MW in Ravi Basin and 1608 MW in Indus basin. Only 3,263.46 MW, about 20 per cent of the…

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Traders body in Mussoorie asks Kashmiri Traders to leave town

Editor

So far the association has not given the Kashmiris any written notice, only telling them verbally about the deadline. However, Rajat Aggarwal, the association president, said there were no two ways about it, hinting at “communal disharmony”. A LOCAL traders’ body in Mussoorie has asked Kashmiris who sell garments from rented shops in the city to leave. Most of the shops have been rented out to them on an 11-month contract that ends on February 28, after which the Mussoorie Traders & Welfare Association wants the Kashmiris out. So far…

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J&K Bank’s top brass goes into huddle as bad loans increase

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Since the Rs 11,400-crore scam of Nirav Modi involving Punjab National Bank (PNB) has come to the fore, the J&K Bank management has gone into a huddle to rectify the mistakes which have led to the accumulation of huge non-performing assets (NPAs). According to sources, the gross NPA of J&K Bank at present could be over Rs 6,000 crore while the net NPA is over Rs 2,000 crore. Gross NPA means the overall NPA with the bank, including NPA against which the bank has taken guarantee from companies who have…

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First Glass-Roofed AC train to make journeys fun-frolic in Kashmir

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In its endeavor to make train journeys in Kashmir more fun-frolic and comfortable, Northern Railways has decided to run soon the Valley’s first air-conditioned train fitted with a glass-rooftop and bigger windowpanes for sightseeing. The trial run of the train was successfully held on Thursday with Railway Department claiming the newly introduced train will give fillip to the tourism in the region. The trial of the coach was held from Srinagar to Sadura in Anantnag. The railway official said the special AC train will run between Baramulla to Banihal from…

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CVPP awards Pakul Dhul Power Project civil works to Afcon JAL JV

Editor

Chenab Valley Power Project Ltd (CVPP) has awarded the civil works constructions of power house of 1000-MW Pakul Dul Hydro Electric Power Project being built on Chenab River in Kishtwar to a Afcons Infrastructure of Mumbai based Shapoorji Pallonji Group, along with its joint venture partner Jaiprakash Associates Limited (JAL) at a cost of Rs 1,051 crore, a spokesperson of CVPP said today. JVCC is a public sector undertaking formed as a joint venture by J&K Government and Centre Government for execution of power projects on Chenab River Basin. Letter…

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Negative media coverage decreased tourist influx to Kashmir: Nazir Gurezi

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Saying that certain media outlets are creating negative perception about Jammu and Kashmir, Deputy Speaker Nazir Gurezi on Wednesday said it has squeezed influx of the tourists to the state. Gurezi was speaking at a conference in Patna which was attended by Speakers and Deputy Speakers from other Indian states and asked them help in clearing the negative perception created by certain media outlets about Kashmir. Maintaining that public representatives have a great role in sustainable development, he requested the speakers and deputy speakers to advise the people of their…

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J&K Bank Hit -Choksi defrauded J&K Bank worth about Rs 152 Cr

Editor

Mehul Choksi, the infamous diamond businessman, who has fled the country along with his nephew Nirav Modi, has also defrauded Jammu and Kashmir Bank of Rs 152 crore, which he had taken in the form of loan from the Bank for ‘Gitanjali Gems’. Confirming this to the Kashmir Post, official sources said Jammu and Kashmir Bank’s Fort branch had sanctioned loan of Rs 121 crore to Mehul Choksi for his diamond showroom ‘Gitanjali Gems’ in Mumbai in the year 2012. However, Choksi, Chairman and Managing Director of Gitanjali Gems turned…

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Soon, Walk amid Snow Leopards and Himalayan Bears at Kashmir’s first Zoo in Pahalgam Valley

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There is good news for animal lovers. Kashmir’s maiden zoo in the stunning Pahalgam valley will be a reality in few years. The zoo, spread over 47 hectares, will initially have over 20 species for display and will be set up at a cost of Rs 100 crore. It will house native species like the leopard, Himalayan black and brown bears, spotted deer, musk deer, Hangul – the Kashmiri stag – and the goat antelope species of Serow, Goral, Markhor. Grey Langoors, leopard cat and even the prized snow leopard…

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Efforts on to make tourism main engine of state’s economic growth: J&K Govt

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The Jammu and Kashmir government has adopted a multipronged strategy to harness the tourism potential of the state and make the sector the principle engine of its economic growth, Tourism Minister Tassaduq Mufti said. The minister, who visited Poonch yesterday to explore the possibilities of developing tourism infrastructure in the district, “A multipronged strategy has been adopted to harness the tourism potential and position Jammu and Kashmir as the leading global tourist destination.” “The idea is to make the tourism sector as the principle engine of the state’s economic growth,”…

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