Kashmiri Traders Demand Banking Facility

Kashmiri Traders Demand Banking Facility

14 November 2011
Express Tribune
AH Nizami

Mirpur: Jammu and Kashmir Joint Chamber of Commerce and Industry (JKJCCI), the sole representative of business fraternity of Azad Jammu and Kashmir and Indian-held Kashmir, has expressed concern over delay in banking facilities for traders engaged in trade across the Line of Control (LoC) and continuing of business on the basis of barter system. The trade body observed that lack of banking facilities has deprived majority of Kashmiris on both sides of the LoC of the opportunity to trade, limiting the benefits to a few divided families. In an interview with The Express Tribune here on Monday, JKJCCI President Zulfiqar Abbasi demanded a detailed review of the list of traded items and expansion of the trade list. He also called for putting in place an effective mechanism to step up trade. Abbasi said that banking facility must be introduced soon and more items should be added to the trade list in consultation with the JKJCCI and regional chambers. Praising the governments of Pakistan and India for expanding confidence building measures (CBMs), he reiterated that LoC trade will help create a peaceful and helping environment for a sustainable solution of the Kashmir issue in accordance with the wishes of the people of Jammu and Kashmir. Abbasi said that the two-day talks between commerce secretaries of India and Pakistan, which began in New Delhi on Monday, should lead to promotion of bilateral trade between the two countries.


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