Cross-LoC trade on the decline


MIRPUR (AJK)our staff reporterIn the wake of absence of requisite infrastructure and facilities, a remarkable decline in trans-LoC trade between Indian-held Kashmir and AJK has been witnessed as goods worth only Rs5.3 million were traded at Taitrinote-Chakan-Da-Bagh crossing point on historic Rawalakot-Poonch Road in Rawalakot district of AJK till the stipulated hours.According to business experts engaged in the trans-LoC trade only one truck rolled out from the Trade Facilitation Centre (TFC) of Poonch city of IHK to AJK, sources told this scribe on Sunday, adding that it carried bags of lemons worth Rs 450,000. From AJK, two trucks carrying bags of herbs, almonds and embroidery items worth Rs4,946,250 crossed into India, the sources said. According to the entrepreneur engaged in the trans-LoC trade, the Kashmiri traders joint body from both sides of the LoC - the Jammu & Kashmir Joint chamber of commerce & Industry has tabled a charter of demands to the governments of both India and Pakistan seeking required facilities especially banking infrastructure for the exchange of cash transactions for the traded goods from both sides to ensure timely payment of the supplied goods. Presently, the cross-LoC trade, launched on October 21, 2008, is being exercised under barter system.Officials from both sides at the crossing point on LoC monitored transportation of these goods twice during the day, the sources added.

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