Protests in Jammu Kashmir cause loss of Rs. 6400 crores

The state of Jammu & Kashmir has suffered losses of around Rs6400 crores owing to curfew and separatist sponsored strikes since the past 49 days. J&K’s economy has tumbled due to unrest in five of its districts, post the killing of terrorist Burhan Wani.

Hizbul Mujahideen commander Burhan Wani was killed in an encounter with security forces on 8th of April, after which  protests by separatists erupted in 5 of its 22 districts. Protests have taken place in Srinagar, Anantnag, Barhamulla, Kulgam and Pulwama districts.The protests took a lethal turn when security personnel were also targeted.Separatists are making use of the youths of this state, thus increasing the tension in these five districts. The separatists are striving hard to maintain the unrest in the region. Taking advantage of the current situation, Pakistan is also supporting the Separatist leaders.

Jammu-kashmirPart of Jammu & Kashmir which is under the influence of Pak-supported separatist leaders  has been almost paralysed for 49 days,which in turn has impacted economy of the state. Tourism which is the pivotal contributor to J&K’s economy is the most affected sector. Violence in J&K has killed around 66 people and injured several other youths.

During the protests, separatists have called for strikes within the state. The resultant tensions has caused shut-down of shops, businesses and private offices. According to Muhammad Yasin, head of ‘Kashmir trade and Manufacturers Association’,the state is suffering  business loss worth Rs. 135 Crores per day, resulting in approximate loss of Rs.6400 crores for past 49 days. He however said that these numbers are based on the daily business average from six months ago. He further said that the trader community wants a permanent resolution to the Kashmir issue.

Due to violence and curfew, the Jammu & Kashmir state government has also suffered revenue losses of around 300 crores. Sales tax collection is the worst affected. Tourists are staying away from the state, hotels and house boats in Srinagar are vacant as well as all the renowned tourist places. An anonymous source from the Tourism department has said that they are helpless as they cannot even ask people to visit in these conditions.

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