Category: Business

Business

National highway opens, closed again; 750 vehicles allowed to pass

Editor

The Jammu-Srinagar national highway was opened for a few hours this morning, allowing the movement of stranded vehicles, a traffic police officer said. More than 750 vehicles left Jammu for the Kashmir valley till 11 am today, the officer said. “No vehicle was allowed to move to Srinagar after that,” he added. The highway was closed in view of apprehensions of trouble after Hizbul Mujahideen commander Sabzar Ahmed Bhat’s killing in an encounter with security forces in the Tral area of Pulwama on Saturday. The fears were compounded by Kashmir…

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‘Negative Publicity’ mars Kashmir Tourism

Editor

Negative publicity by electronic media’ coupled with prevailing situation here has put the Kashmir’s tourism sector in dire-straits, with tourist arrivals to the state witnessing 50 percent decline resulting in huge business losses to the people associated with it. As per rough estimates of the tourism department, the tourist arrivals to Kashmir have declined more than 50 percent than a year ago. The figures show that during the month of April this year around 67,000 tourists visited Kashmir, which is less than 50 percent of 1,42,761 tourists, who visited Kashmir…

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Jammu-Srinagar highway closure enters 3rd day, fruit traders submit memorandum to IGP

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As the Jammu-Srinagar Highway closure entered third day three on Tuesday and goods worth crores of rupees remained stranded on this vital road, Kashmir-based fruit growers and dealers shot across a letter to IGP Kashmir Munir Khan urging him to allow movement of traffic immediately so that rhw perishable goods didn’t rot on way. Speaking to Kashmir Post, president, New Kashmir Fruit Association, Parimpora Fruit Mandi, Bashir Ahmad Basheer said more than 150 truckloads carrying fruits, vegetables and dates are stranded on the highway since Sunday evening. Basheer said, in…

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Secy Tourism pitches for ‘South African Model of Adventure Safari Tourism’

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ATOAK, Wildlife hold seminar on ‘Biodiversity and Sustainable Tourism’ While asking for cooperation of stakeholders, Secretary Tourism Farooq Ahmad Shah pitched for ‘South African Model of Adventure Safari Tourism’, which does not disturb wild animals and is also nature friendly. “African countries have most popular tourism products and attract large number of tourists,” Shah said while addressing a seminar titled ‘Biodiversity and Sustainable Tourism’ organised by Adventure Tour Operators Association of Kashmir (ATOAK) and Wildlife SOS on Wednesday here. The event was supported by Tourism Department, J&K Bank and Hotel…

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Thinking of doing the Kashmir Great Lakes Trek? Here’s what you need to know

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There is no place like Kashmir, and the place deserves to be explored. Named after the Ganges, the Gangabal Lake is considered a holy lake for Kashmiri Pandits Kashmir Great Lakes Trek is one of the most beautiful treks in India. This trek is located above Sonamarg (or Sonmarg), which lies on the Srinagar-Leh highway just before the Zozila Pass.The true beauty of Kashmir lies in the hidden valleys that are not accessible by road. Until a few years ago this trek was also not accessible to civilians and has…

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Media scare costs Kashmir tourism dearly

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Valley witnesses over 50% dip in tourist arrivals Tourist arrivals to Kashmir have witnessed sharp decline, with stakeholders blaming mainstream electronic and print media for creating a perception of war-like situation in the valley. There has been a dip of 53 percent in the tourist footfall in the month of April as compared to last year, according to official figures of tourism department. A total of 67181 tourists visited valley in April 2017 compared to 142761 during the corresponding period last year. As per the official figures, 403442 tourists visited…

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Kashmir Dispute, Religious Strife ‘Risks’ to investment in India: Foreign funds

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Top foreign funds — including JP Morgan, HDFC Fund, Cognizant, Indian Fund and others — have flagged ‘persisting religious conflicts’ and the ‘Kashmir dispute’ as potential risks to their investments in India. Similar concerns have been flagged by a few funds regarding Pakistan also. A number of large foreign funds, managing trillions of dollars of investor assets globally, have flagged ‘persisting religious conflicts’ and ‘Kashmir dispute’ as potential risks to their investments in India, saying such “tensions” could destabilise the Indian economy. JPMorgan, one of the largest wealth managers in…

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Tourism industry hit for second consecutive year

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Kashmir’s tourism sector has been hit for the second year amid continued unrest in the Valley, with most tourists preferring Shimla. The Valley’s tourist destinations wear a deserted look. Just a handful visit the Dal lake, where shikaras mostly remain anchored. “This year, only 10 per cent of the expected tourists have come to Kashmir. This is our peak season and we are without any tourists,” says Shikara Owners’ Association president Wali Mohammad. “The last 10 months were horrific for us. And this time, there is absolutely no business.’’ There…

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Won’t allow dilution of special status: Kashmir Inc

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Fearing that implementation of Goods and Services Tax (GST) regime would “dilute” J&K’s special status, Kashmir’s business community on Friday cautioned that any attempt to harm Article 370 will have “serious repercussions for both New Delhi and the state government.” Addressing a press here, Muhammad Yaseen Khan, president, Kashmir Traders and Manufacturers Federation (KTMF), said: “We are not against taxes but warn both the state and central governments that if they try to dilute state’s special status under the garb of implementing the GST regime, we will launch a massive…

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Won’t allow infringement of Article 370: Kashmir INC on GST implementation

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On a day when Goods Services Taxes (GST) council meet was organized in Srinagar, the business community of Kashmir warned the State government against implementation of GST, stating that they won’t allow infringement of State’s special status. The business chambers and associations flayed the state government over its decision to hold meet in Kashmir, stating that “they have kept business community in darkness about the impact and ramifications of one tax regime.” Kashmir is a disputed territory, by bringing it under uniform taxation policy is akin to implementing the BJP’s…

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