GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Loss Pegged at Rs 80 Crore as Cross-LoC Trade Remains Suspended

Trade across the Line of Control (LoC) was suspended on July 11 after heavy firing and shelling from the Pakistani side caused damage to trade facilitation centres and police barracks.

PTI

Updated:October 24, 2017, 4:33 PM IST
facebookTwittergoogleskypewhatsapp
Loss Pegged at Rs 80 Crore as Cross-LoC Trade Remains Suspended
Indian soldiers fix the entry gate on a crossing point at the Line of Control (LoC) (File Photo/ REUTERS)
Loading...
Jammu: Suspension of cross-LoC trade between Jammu and Kashmir and Pakistan-occupied Kashmir (PoK) for the last 16 weeks has resulted in a loss of over Rs 80 crore, an official said on Tuesday.

Trade across the Line of Control (LoC) was suspended on July 11 after heavy firing and shelling from the Pakistani side caused damage to trade facilitation centres and police barracks.

"Due to suspension of trade along the LoC, there was a loss of over Rs 80 crore during the period," custodian of LoC trade (Poonch), Mohammad Tanveer told PTI.

Cross-LoC trade and transport facilities are considered major confidence building exercises between India and Pakistan. According to official figures, goods worth Rs 1,500 crore was traded since the start of the facility in 2008.

The cross-LoC bus service via Poonch-Rawalakot road too remained suspended for the last 16 weeks.

Jammu and Kashmir has witnessed the worst border skirmishes between India and Pakistan along the LoC this year.

According to Indian Army figures, till August 1, there were 285 such violations by the Pakistan Army, a sharp increase, while in 2016, the number was 228 for the entire year.

Eleven people, including nine soldiers, were killed and 18 injured in ceasefire violations by the Pakistan Army in July, according to the Army data.

There were as many as 83 ceasefire violations, one BAT (border action team) attack and two infiltration bids from the Pakistani side in June in which four people, including three jawans, were killed and 12 injured.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,099.45 1.80
SBI 278.05 0.04
HDFC Bank 1,927.75 0.35
ICICI Bank 360.90 2.43
Jet Airways 254.65 5.12
Company Price Change %Gain
Godrej Consumer 684.15 -1.23
Jet Airways 254.65 5.21
Larsen 1,391.15 1.77
Dewan Housing 236.90 -1.99
Sun Pharma 561.70 -4.72
Top Gainers
Company Price Change %Gain
Eicher Motors 23,241.85 5.96
IOC 141.40 4.70
BPCL 303.15 4.10
HPCL 232.80 3.44
UltraTechCement 3,829.90 2.77
Company Price Change %Gain
ICICI Bank 360.90 2.44
NTPC 156.40 2.36
Axis Bank 618.60 2.05
Reliance 1,099.55 1.93
Larsen 1,391.15 1.77
Top Losers
Company Price Change %Gain
Sun Pharma 561.75 -4.71
Tata Motors 179.50 -3.52
Indiabulls Hsg 841.95 -2.69
Power Grid Corp 184.05 -1.02
Cipla 528.10 -0.71
Company Price Change %Gain
Sun Pharma 561.70 -4.72
Tata Motors 179.80 -3.31
Power Grid Corp 184.25 -0.94
IndusInd Bank 1,484.40 -0.49

Live TV

Loading...
Loading...