TRADE HIT

Traders have been at the receiving end of the situation in Kashmir valley since one year. First it was the clampdown, life crippled completely in Kashmir valley to stop protests by people.

It was followed by lockdown for the coronavirus which has broken the back of an already sinking economy in Kashmir valley. All the loans have gone bad in Kashmir and even the small time traders could not repay their small installments to the financial institutions.

The Kashmir Trade Alliance (KTA) recently said the five-month-long Covid-19 lockdown had dented the economy of J&K by Rs 20,000 crore.

As per our preliminary estimates, the trade body has calculated the losses worth Rs 20,000 crore in the five months of Covid-19 lockdown. Though they are still compiling a detailed report that will be released after August 18 when the lockdown completes five months, traders have said that losses can be even more.

The KTA said the lockdown had not led to a decrease in Covid-19 positive cases and therefore the government should relax the same.

In the first phase of the lockdown, shops, businesses and shopping malls remained closed for three consecutive months. During this period, the number of cases still increased. In the second phase, shops in Srinagar and other districts were kept closed for 20 consecutive days, but even during that period, the number of coronavirus cases increased. After Eid, shops and businesses have been closed but we still have around 500 positive cases every day and it has started a campaign among the people about the failed policies of the government to contain Covid-19.