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IIOJK in focus

IIOJK suffers losses worth Rs 50,000 crore since Modi regime took Aug 2019 action

Srinagar, December 15 (KMS): Since Modi-led fascist Indian government took brutal August 2019 action, Indian illegally occupied Jammu and Kashmir suffered a loss of around Rs 50,000 crore which includes around Rs 10,000 crore, this year.

This was revealed by the President of Kashmir Chamber of Commerce and Industries (KCCI) Sheikh Ashiq at a media briefing in Srinagar, today. He said that from August 2019 Kashmir’s economy has suffered a whopping of over Rs 50,000 crore losses while around one lakh youth lost their jobs during the same period.

“Of Rs 50,000 crore loss, around Rs 10,000 crore loss has been incurred in this year due to the lockdown,” Ashiq said.

“Every segment of the economy suffered huge losses and it will take years to revive our business and without government support, it isn’t possible,” he said.

Ashiq said that business in Kashmir is going on a very thin line and they aren’t expecting any big things to happen presently.

Kashmir Traders and Manufacturers Federation (KTMF) President Muhammad Yaseen Khan told media that business this year is down than last year because of inflation.

Khan said that prices of every commodity have increased unexpectedly and common people are facing its burnt. He said that though the unemployment rate is increasing and around one lakh people lost their jobs last year due to lockdown.

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