Category: Business

Business

Slump in business continues as shoppers stick to essentials

Editor

Despite opening of a few markets in the evenings, business activity continues to remain affected ahead of Eid-ul-Azha. Two months of unrest following the killing of militant commander Burhan Wani on July 8 has adversely hit business activity. While shopkeepers are hoping to recover some losses ahead of Eid, most of the businesses remain affected as “evening shopping” mostly remains confined to people buying essentials. “No doubt, for the past two days, marketplaces have been bustling for two hours during evenings in view of the relaxation in Hurriyat calendar. However,…

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All Party Delegation visit “Half-Hearted” measure: Kashmir Inc; Panel has no mandate, Boycott It: Geelani

Editor

Terming the upcoming visit of the ‘All Party Delegation’ to Jammu and Kashmir as “half-hearted” measure, the business fraternity in the Valley today said it would talk with the delegation if they talk to the Hurriyat. “The Kashmir Inc unanimously resolved not to meet the Union Home Minister-led All Party Delegation scheduled to visit Valley on September 4. Such half-hearted measures won’t solve any purpose as this dialogue seems to be conducted without seizing the hostilities and pressure tactics,” several trade bodies of Kashmir said in a joint statement issued…

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Govt, Separatists upset Kashmir’s Applecart

Editor

Amid continuing curfew and shutdowns, the backbone of Jammu and Kashmir’s economy – Rs 8,000-crore apple industry — is caught in a crisis with the government and separatists urging the fruit markets to follow their schedule. Kashmir’s biggest fruit market at north Kashmir’s Sopore town is shut for the past three days following the killing of a youth in the area. The government wants them to operate from 9 am to 6 pm while separatists want them to remain closed and follow their shutdown calendar. Dozens of youths, backed by…

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Valley faces shortage of fuel as Oil Tanker Owners strike continues

Editor

With Jammu and Kashmir Oil Tanker Owners’ Association suspending supplies to Kashmir citing “attacks by miscreants”, the summer capital Srinagar is running short of fuel, with local petroleum dealers accusing the state government of “failing to resolve the issue.” As per the dealers in Kashmir, out of depots of three Oil Marketing Companies in Kashmir, two have “gone dry” due to halting of oil supplies from outside by the Tanker Owners’ Association. “Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited depots in Srinagar are dry as they have run…

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Few firms moving temporarily outside Valley

Editor

The ongoing Kashmir unrest has forced several Srinagar-based companies and some national firms based in the summer capital to move their operations outside the Valley at least for now. To ensure its smooth functioning, Al-Mahmood Builders, a leading real estate firm in Kashmir has moved its base to Delhi from where the company is now servicing its clientele, company’s Managing Director, Sikandar Khurshid, told Kashmir Post over telephone. “We’ve are committed to our clients to deliver flats by a particular date so we could not afford to sit back. We…

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“Govt killing the people of Kashmir and Business with same Bullet” : KEA

Editor

Condemning the killing of youth in Naidhal area of Baramulla district today morning, the Kashmir Economic Alliance (KEA) said that the “government was killing the people of Kashmir and business with same bullet.” “The youth was killed in government action as troops went berserk when earlier people were angry with the forces having stopped ferrying of fruit laden vehicles. This is a clear cut message that government wants to kill the people of Kashmir from all sides through all means,” said KEA Chairman Mohammad Yasin Khan. Khan, who also heads…

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Admin paying Sumo, Auto drivers hefty sum to run empty vehicles: Hurriyat (G)

Editor

People of Jammu and Kashmir have risked their everything for the movement, daily killings, scores of injuries, 52 days of strict siege and more that 140 crore daily financial loss have earned this uprising a priceless tag, said Hurriyat (G). In a statement issued to KNS, Hurriyat (G) said that employees, traders, transporters and factories are united in their resolve. But India by its nefarious designs and wicked conspiracies try their best to derail it through their paid local agents. They pay sumo and auto drivers hefty sum to run…

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Kashmir Protests Hurt Business, Rs. 6400 Crore Lost In 49 Days

Editor

The ongoing unrest in Jammu and Kashmir has led to a whopping Rs. 6,400 crore loss to the state, with businesses being badly hit due to curfew and separatist sponsored strikes. Tourism and other business activities in Kashmir have come to a halt since protests broke out after the killing of terrorist Burhan Wani by security forces on July 8. Since then large parts of the state have remained under curfew, affecting business and tourism in the state. “Kashmir is suffering losses of about Rs. 135 crore daily. We estimate…

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Mutton consumption plummets to Rs 50 lakh from Rs 5 crore a day

Editor

As Kashmir remained under siege for 48th straight day with restrictions and lockdown in place, the demand for mutton in the summer capital of the state here has witnessed drastic decline. In normal situations, in July and August, as per rough estimates around 10,000 marriages are solemnized in Kashmir. A huge quantity of meat is consumed by the wedding functions. However, this year, the killing of Hizbul Mujahideen commander, Burhan Wani, on July 8, which led to protests and civilians killings, resulted in massive cancellation of marriage functions. As per…

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Season of Apples, Peaches fails to bear fruit

Editor

With unrest in the Valley entering its second month, August that is normally the season of fruits has failed to bring cheer to the seven lakh families involved in horticulture in Kashmir. Spells of curfew and unending shutdowns have grown fears that the Rs 6,000-crore fruit industry has run into bad weather. In this season of peaches, apricots, plums and apples, fruits have ripened but there is no market. With markets shut, even the varieties that mostly cater locally are finding no buyers. “This is the main season of peaches,…

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