Category: Business

Business

Unrest lands Valley’s wazas in soup

Editor

Abdul Gani, 52, a wazwan chef, has done no business this season. After the unrest started in Kashmir in the second week of July, he started getting calls and 90 per cent of his bookings were cancelled. Like Abdul, a resident of uptown Srinagar, most of the wazas in Kashmir made no money during this wedding season as the weddings were either cancelled or solemnised in a simple manner due to the ongoing unrest. “This season we have done no business. We are only getting calls for cooking at langars…

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Chenani tunnel project hit by prolonged turmoil in Valley

Editor

Movement of material, workers disrupted; deadline extended The prolonged unrest in Kashmir has badly affected the completion of the country’s longest road tunnel between Chenani and Nashri on the Jammu-Srinagar national highway. The authorities have extended the deadline to the end of November, but with a rider that the tunnel would be thrown open to traffic only after normalisation of the situation in Kashmir. The unrest has slowed down the movement of material and people to and from Kashmir and thus, the most awaited 9.2-km-long Chenani-Nashri tunnel may take some…

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Online Businesses suffer huge losses due to Internet ban

Editor

Online businesses and trade affiliated with e-commerce in Kashmir have faced losses worth over Rs 3000 lakh in past more than two months of the ongoing uprising due to ban on mobile Internet and broadband services. Preliminary estimates suggest that online businesses are incurring Rs 40 to 50 lakh losses on an average daily basis. President Courier Service providers Association, Zahoor Qari said that the Internet ban and prevailing situation on the ground has dented their business. “Courier service was not a traditional business in Kashmir, but it was flourishing…

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Tourism thrives in Ladakh as Valley loses its peak season to unrest

Editor

As tourism activities have come to a halt in the Kashmir valley, there has been an increase in footfall in the Ladakh region. Ladakh has received a record number of tourists this year and the Tourism Department is looking forward to woo more visitors to the region through the annual Leh Festival that will begin on September 20 (Tuesday). “Ladakh has already received more than two lakh tourists this year. This is the highest number ever to have visited the region by this time of the year. We are expecting…

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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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