Cross-LoC trade crosses Rs 10 cr for first time

Cross-LoC trade crosses Rs 10 cr for first time

10 March 2010
The Daily Excelsior


JAMMU: For the first time since launch of cross-LoC trade on Poonch-Rawlakote route in October 2008, the business from both sides on two days of the week today crossed Rs 10 crore. 'This is a new feat in the history of cross-LoC trade. Rs 10 crore worth import-exports on two days are quite significant', official sources said. Yesterday’s import-exports from Chakan-Da-Bagh cross-LoC point were valued at Rs 5.97 crore while today they stood at Rs 4.32 crore totaling Rs 10.29 crore. Cross-LoC trade is conducted every Tuesday and Wednesday. Last month it was suspended for two weeks by the traders in support of their demands including lifting of ban on import of dal moong from Pakistan occupied Kashmir (PoK). Sources said Rs 2.92 crore worth items were today imported by the traders of this part of divided State from PoK. The imports, like yesterday, mostly include dal moong and dry fruits, which came in 25 trucks. From Poonch too, an equal number of 25 trucks left for PoK carrying coconut, brown cardamom, red chilly and dry coriander having a price tag of Rs 1.40 crore. Total trade today stood at Rs 4.32 crore. Yesterday, imports from PoK were valued at Rs 4.73 crore and exports at Rs 1.24 crore totaling Rs 5.97 crore. Total trade on two days, for the first time, went up to Rs 10.29 crore. The highest trade on Poonch-Rawlakote route so far was about Rs 7 crore. A jump in cross-LoC trade is being attributed to lifting of ban on import of dal moong by the traders of this part of divided State from PoK. Dal moong has a very high demand by the traders of this side due to huge variation of process in two parts of divided State, sources said. They added that traders in PoK were not in a position to meet the high demand of dal moong from the traders of this side as only 25 trucks are allowed to exchange sides from one part of divided State to the other in one day. On two days of week, only 50 trucks reached here from PoK and, according to sources, 80 per cent of them carried dal moong while rest were loaded with dry fruits, mostly almonds. Sources said the trade could pick up in the coming few days as the authorities were in the process of publication of a detailed list of items allowed for import-exports on Chakan-Da-Bagh route.


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