Category: Business

Business

Tourists flee Valley but many vow to return

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“We were stranded for four days. We came to Srinagar on Tuesday as we had bookings. We took the risk and came,” said one tourist to IANS. Thousands of tourists who were caught up in the turmoil in the Kashmir Valley have left, dealing huge blows to the tourism industry. But some of the tourists said they will be back. On Saturday, the ninth day of unrest in the valley following the killing of militant commander Burhan Wani, the otherwise busy markets and roads in the Dal Lake area were…

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Tourism in valley down by 90%

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50000 tourists have left Valley: Director Tourism Kashmir tourism has been hard hit by the ongoing civil unrest with around 50000 tourists leaving the valley, according to officials, in the last week and many more cancelling their trips. Speaking to Kashmir Post, Director Tourism, Mehmood Shah said: “The tourism has come down drastically by 90 percent in six days. Around 50,000 tourists have left Kashmir and the arrival is almost equal to zero.” Shah said the department of tourism has made arrangements for safe departure of tourists from the valley.…

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Oil suppliers threaten to quit state

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On the second consecutive day, operators of petrol tankers today staged a demonstration against attacks on their vehicles and drivers in different areas of the Kashmir valley. Petrol tank operators, who have stopped supply of oil to the Valley, today warned that they would stop local supply also if action was not taken against the attackers. President of the All-J&K Oil Tankers Drivers’ Association Kharudin Wani said the attacks on operators were going on unabated in Kashmir but no action had been taken against protesters. He said in the last…

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Business Community to follow joint programme of resistance camp

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• Mehbooba not in control, should leave chair • Burhan not the first one, surely not the last The business community of Kashmir Tuesday said Kashmir is a dispute and it was never a part of India and shall never be so. They also said the slain Hizbul Mujahideen commander Burhan Wani was their ‘child’ and the ‘darling’ of Kashmir. Chairman of Kashmir Economic Alliance (KEA), Muhammad Yasin Khan, President of Federation of Commerce and Industry Kashmir (FCIK) Ashraf Mir and the representatives of the Civil Society Kashmir while addressing…

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‘Business can wait, dead can’t come back’

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Govt carrying genocide of Kashmiri Muslims: KEA SOP not being followed, most injuries above waist: KCCI Valley’s business community feels that when their ‘kith and kin’ are being killed left right and centre, business doesn’t remain a priority. The business leaders also accused the state government of carrying out ‘genocide’ of Kashmiri Muslims. President of Associated Chamber of Commerce and Industry Kashmir (CCIK) Zahoor Tramboo said that business surely takes a back seat but it doesn’t remain a priority in such situations. “We are also a part of the general…

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Airlines waive off rebooking, cancellation charges during disturbance in Valley

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In wake of the serious disturbance in Srinagar, airlines have begun waiving off rebooking charges for passengers supposed to fly to and from the city. Officials say passengers supposed to fly out of Srinagar are the worst hit as they are unable to reach the airport. Holidayers, who had planned trips to Kashmir in coming days, are cancelling their trips. An Air India official said, “We have waived off penalties for re-issuance, date change, no-show, cancellation and refund charges for travel to and from Srinagar for both domestic and international…

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Pro-India parties behind economic crisis: Mirwaiz

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Takes on CM for blaming Hurriyat-led shutdowns for instability in state Hitting back at Chief Minister Mehbooba Mufti, moderate Hurriyat leader Mirwaiz Umar Farooq today said “the policies of pro-India parties” over the years were “responsible for the economic crisis” of the J&K. In her address to the J&K Legislative Council on Saturday, Mehbooba had blamed the Hurriyat conglomerate for causing economic instability of the state by their shutdown calls. “The statement made by Mehbooba”, Mirwaiz said, “was meant to cover the heinous crimes perpetrated by (pro-India parties) by selling…

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Black marketers have field day as CAPD dept goes ‘missing’ on ground

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Common man hit as traders arbitrarily hike prices of commodities on Eid eve With people thronging the markets in Srinagar in large numbers ahead of Eid-ul-Fitr, black-marketers and hoarders are having a field day in absence of any monitoring by the Consumer Affairs and Public Distribution department. On Monday, different markets across Kashmir, especially in Srinagar, were flooded with shoppers. The busy markets of Residency Road, Jamia Market in Nowhatta and other small and big markets in the summer capital witnessed a huge rush of customers who were mostly seen…

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Heavy rush in markets as Eid nears

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With just two days to go for Eid-ul-Fitr, markets across the Valley, including summer capital Srinagar, wore a festive look today as people came out in large numbers for shopping. The business hub Lal Chowk, Goni Khan and Maharaja Bazar witnessed heavy rush of people buying essential items for the Eid which is scheduled to be celebrated on July 6 or 7 depending on the appearance of the crescent as Muslims follow the lunar calendar. Bakeries, confectioneries, toy shops witnessed a heavy rush of customers as the locals started preparing…

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Banks will not exchange pre-2005 notes

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RBI designates 20 offices across country to swap them Banks will no longer exchange notes introduced prior to 2005. The Reserve Bank of India has designated 20 select offices across the country where people can directly approach for exchange of such notes. However, persons having such notes can also deposit them with their bank and the bank will in turn send them to RBI. According to press note issued by it, the Reserve Bank of India has observed that a major portion of the pre-2005 banknotes have been withdrawn from…

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