Unrest in Valley  crushes Jammu’s economy

Jammu: Jammu region is facing worst economic crisis due to unrest in Kashmir.  The industrial sector of Jammu has been suffering a loss of about Rs 100 crore per day and it comes around Rs 5,000 crore since the eruption of violent protests in Kashmir on July 8.

Experts are saying that it could take  at least two consecutive financial years to recover from the losses they have suffered. Many people are losing their jobs as business establishments are scaling down their staff strength.

Money, Provident Fund

The hospitality industry of Jammu has suffered the greatest loss till now. Hotels, restaurants and lodges in Katra town, have been worked out at around Rs 350 crore till date and the figures are piling up with every passing day.

While talking to a daily newspaper, Inderjeet Singh Khajuria, president of Jammu Hotels and Lodges Association said ,“All advanced bookings have been cancelled by visitors and tourists while we have received no fresh bookings since the start of the unrest in the Kashmir valley. There is zero occupancy in our hotels. There are around 300 hotels and lodges in Jammu district alone which have suffered a cumulative loss of about Rs 250 crore so far. The situation is worsening with every passing day.”

The business in the city has been completely crippled. Every trader—be he from trade, tourism or hotel industry–is crying today.

Looking back into time,  Jammu traders have seldom been paid for any loss while traders of the Kashmir valley would be compensated for the losses incurred by them. Although Union Home Minister Rajnath Singh and Chief Minister Mehbooba Mufti’s statements have brought a ray of hope that normalcy will return soon and the traders will be able to re-start their business activity.

Till this situation is addressed and the issue resolved, the trade would continue to be affected in Jammu region.

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