Ambitious government IT projects such as digitization of the state departments and Aadhar enrollment outsourced to local Information Technology (IT) companies are in a limbo as operations of these firms have been adversely hit by the continuous unrest in Kashmir, IT experts and the firm owners say. While Aadhar based work is commissioned to IT companies by the centre, digitization work is largely handed over to these companies by the state government. Several IT players say these projects were being handled by them till July 8 when Hizb commander Burhan…
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Business
Shops open across valley as ‘Relaxation’ period starts
As the separatist leaders discussed “future course of action” in the ongoing unrest, Kashmir continued to remain shut amid restrictions with a semblance of normalcy by increased pedestrian and traffic movement on the roads on day 123 today. A semblance of normalcy had been witnessed here and in major towns of the Valley since morning today as an increased movement of pedestrians and traffic was seen on the roads. It was followed by the opening of shops in the main market places beginning with the “relaxation period” of 15 hours…
Read MoreTo eke a living amid unrest, youth opt for vendor vocation
Amid relentless shutdown for the past consecutive 121 days, youngsters in Kashmir are opting for vendor as vocation to survive and sustain their families. And for shoppers amidst shutdown and restrictions, vendors are the main source to shop for eatables and other essentials. ‘You name it and they have it’ is the notion on the streets of Srinagar and elsewhere where vendors have occupied every nook and corner of the roads. “Vendors are selling vegetables, fruits, mobiles, SIM cards, households, kitchen wear items, warm clothes, kids wear, soaps, dry and…
Read MoreKashmir Economic Forum demands 1 yr moratorium on loan repayments
In view of ongoing crisis, the Kashmir Economic Forum (KEF) has demanded one year moratorium on repayment of loans by the affected borrowers. The forum has urged the state government to approach the Reserve Bank of India in this regard. The forum said the banks in the state were deducting the EMI along with interest from the accounts of Valley-based borrowers, especially the businessmen who have been badly affected by the ongoing crisis. Chairman KEF Showkat Chowdhary said the deduction of EMI was depleting the “borrowers’ deposits in the banks.”…
Read MorePrivate firm to get contract of New Ganderbal hydro project
After nearly two decades, the PDP-BJP government is finally handing over the construction of the 93 MW New Ganderbal power project on the left bank of the Sindh in central Kashmir to a private firm —- Hindustan Construction Company (HCC). The decision to handover the construction of the hydropower project to HCC will be taken in the Cabinet meeting likely to be held in the third week of this month. Chief Minister Mehbooba Mufti has directed the officials concerned to keep the construction of the power project in the Cabinet…
Read MoreKashmir Trade Federation vouched for Once-For-All settlement of Kashmir Issue
Kashmir trade on Wednesday vouched for once-for-all settlement of Kashmir Issue in a meet with a five-member group from New Delhi led by right wing BJP veteran Yashwant Sinha. Former Union Foreign Minister Sinha landed in Srinagar on Tuesday and held closed door meetings with Hurriyat patriarch Syed Ali Geelani and Mirwaiz Umar Farooq the same day. However, Sinha asserted he and his colleagues do not represent government of India confirmed by a top Union Home Ministry official and a spokesperson of BJP. They are a three-day visit to Kashmir. On…
Read MoreShutdown of services across Valley costs companies nearly Rs5 crore per day
The telecom sector in Kashmir has repeatedly been ordered to shut services during the past four years. It suffered the most crippling closure during the ongoing unrest, which significantly impacted its revenue. The latest shutdown of telecom services in the Kashmir valley was ordered by the state government on July 8 immediately after the encounter of militant commander Burhan Wani. Even though most of the services had been restored, mobile Internet services continued to remain shut for the past 108 days. Jammu and Kashmir has a subscriber base of approximately…
Read MoreTransport sector in dire straits; 1.15 lakh vehicles grounded since last 108 Days
Transport sector in Kashmir is in dire straits as the unrest has left over 1.15 lakh vehicles grounded with stakeholders (owners, drivers and conductors) finding it hard to eke out livelihood. Although every sector of Kashmir economy has suffered in the ongoing unrest, transport and tourism are the worst hit. The passenger transport could not operate even during relaxations in the shutdowns by the resistance camp. As per figures dished out by the joint conglomerate of transporters – Kashmir Transport Welfare Association- there are around 1.15 lakh passenger and commercial…
Read MoreLocal cement industry in distress; outside companies enjoy windfall amid Unrest in Kashmir
In the wake of ongoing unrest in Kashmir, the local cement industry here has suffered an estimated Rs 300 crore loss, while the outside cement manufacturers are reaping dividends in the Valley. Prior to unrest, the local production—both in private and public sector— would suffice the demand. However, the closure of the units due to the shutdown from July 9 has made Valley dependent on imports. According to sources Kashmir gets cement, mostly of “substandard” quality, from the outside in the wake of closure of the local units here, which…
Read MorePatnitop tourism takes a beating due to Kashmir Turmoil
The ongoing unrest in the Valley has spoiled the tourism at Patnitop and affected the livelihood of the government (JK Tourism Development Corporation and Tourism Department) and private hoteliers besides all those dependent on the allied services. With peak tourist season already over, the autumn setting in and school or college exams round the corner, Patnitop wears a deserted look even on Sundays as no local tourist was seen here on Sunday. According to the Manager, JKTDC, Patnitop, Karam Chand Bhardwaj, since June 10 the occupancy rate in the JKTDC…
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