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Kashmir's economy suffers Rs 6400 crore loss

Business establishments, Shops and petrol pumps have been shut as separatists have called for a complete strike to protest civilian deaths in violence

Policy Pulse
Publish Date: Aug 26 2016 2:28PM | Updated Date: Aug 26 2016 2:28PM

Kashmir's economy suffers Rs 6400 crore loss

 The unrest in Kashmir has resulted in whopping Rs 6,400-crore loss to the economy of the Valley, with businesses being badly hit because of curfew and separatist sponsored strikes. 

 
Tourist and other business activities have come to standstill for last 49 days after protests erupted in Kashmir after killing of Hizbul Mujahideen commander Burhan Wani in an encounter with security forces in Anantnag district on July 8. 
 
Clashes between security forces and protestors have claimed the lives of 66 people and thousands of others left injured. 
 
Business establishments, Shops and petrol pumps have been shut as the separatists groups have called for a complete strike to protest the civilian deaths in the violence after Wani's killing. 
 
Separatists have announced periods of relaxation, but they are mostly in the night which does not help the traders who say that there have been incidence  of masked youths or even security forces forcing the shopkeepers to down the shutters.
 
"Kashmir is suffering losses of about Rs 135 crore daily. This estimates to over Rs 6,400 crore so far," Mohammad Yaseen Khan, president Kashmir Traders and Manufacturers Federation (KTMF), said in Srinagar.