BUSINESS

The Jammu Kashmir admin and UT of Ladakh has approved a hike of 17.29 % increase in the average power tariff ‘ in the region. The new power tariff, as per the Joint Electricity Regulatory Commission (JERC), which has been revised after 2016-17, will be effective from October Ist, 2022 in the Jammu Kashmir, according to a report by Daily Excelsior. Jammu Kashmir admin has also approved the hike for various categories right from BPL to the domestic, commercial and heavy Industry. According to an official spokesman, the average overall nominal increase over the previous tariff, which was last revised in 2016–17, is only about 8% for some segments, while the inflation rate in the same period is 24% (the CPI Combined: All India General Index (All Groups) has increased from 131.1 in Apr...

Malak Tariq On Sunday, Traders took to the streets in Dogra Chowk near Gulab Singh Marg in Jammu to protest against the opening of Reliance Mart in the city. In 2021, the JK admin hinted at opening a hundred Reliance marts in Jammu. The news was met with backlash from the traders and the Government rolled back on its statement. However, the JK admin inconsiderate of the local protests went ahead and the Reliance store opened in Jammu along with a license for beer and wine supply. The Chamber of Commerce and Industries Jammu took out a march to the Reliance store with raging slogans 'long live traders' unity' and 'stop axing local businesses'. Hundreds of traders burnt Reliance Mart banners outside the store and appealed to the admin to save small traders and cancel the license ...

The administration is likely to install 'Srinagar Eye' in the pattern of the famous 'London Eye' inside the world-famous Dal Lake in Central Kashmir’s Srinagar district. Sources told the news agency—Kashmir News Observer (KNO) that like 'The London Eye', the admin is planning to construct “Srinagar Eye” with a giant “Ferris Wheel” inside the Dal Lake for the attraction of tourists to the Valley. They said that a location has also been shortlisted for construction of the same and if this goes through, it could become a huge attraction for tourists and will be a major boost to the tourism sector as well in the Valley. The London Eye, or the Millennium Wheel, is a cantilevered observation wheel on the South Bank of the River Thames in London. It is Europe's tallest cantilevered obser...

In view of the ongoing crisis concerning apples in Kashmir, locals have taken to several innovative ways to promote the local consumption of the Kashmiri apple. One such incident took place in the Rawalpora area of Srinagar, where a family distributed local apples at the wedding of their daughter, earning praises from all quarters of the society. Ghulam Mohammed Baba, a resident of Yayil in Rawalpora Srinagar had been busy preparing for the wedding of their daughter when the saddening visuals of trucks laden with Kashmiri apples hit the internet. It was during this time that Ghulam Mohammed and other elders decided that they would purchase apples for hundreds of guests who were invitees to the wedding. On Sunday, as hundreds of people attended the wedding it was surprising for man...

Amid 'Zulm ab Bandh Karo' slogans,  M Y Tarigami on Sunday reached Kulgam to address a one-day convention of apple farmers from various parts of south Kashmir. The senior CPI (M) leader and PAGD spokesperson, Yusuf Tarigami said that a wave of mourning has run throughout Kashmir seeing the plight of apple farmers in the valley.  "Be it north, Central or south, everyone in Kashmir is deeply anguished seeing the condition of apple farmers," Tarigami said. It was unfortunate, he said, that the officials were lying about the truckers being allowed on preference to travel to Jammu. "For Kashmiris traveling outside the valley, the highway is opened for four hours only, and for those traveling into the valley, the Highway is opened for 12 hours," he claimed. He said that on one side the ...

Amid a surge in the arrival of domestic tourists, only 6,194 foreign tourists have visited Kashmir Valley in the first seven months of this year. The data provided by the Deputy Director Department of Tourism in response to an application filed under RTI Act reveals that over 15 lakh domestic tourists from January to July have visited Kashmir Valley. The number of foreign tourists as per news agency Kashmir News Trust who visited the Valley from January to July is not so high. The number stands at 6,194. In January 260 foreign tourists visited Kashmir followed by 230 in February, 520 in March, 795 in April 1527 in May 1069 in June, and 1793 in July. (KNT)

Scores of fruit growers on Wednesday staged a peaceful protest demonstration inside fruit mandi Sopore in north Kashmir’s Baramulla district against halting of fruit laden trucks along Srinagar- Jammu national highway. Reports l said that the fruit growers were demanding smooth transportation of fruit laden trucks along the national highway. Talking to the news agency—Kashmir News Observer (KNO), president Fruit Mandi Sopore, Fayaz Ahmed Malik said that they have already suffered heavy losses during the last several years due to natural calamities and continued blockage of the National Highway and now unnecessarily stoping of fruit-laden trucks are compounding to their miseries. He alleged that the authorities are unnecessarily stopping trucks and it seems they deliberately want t...

JK Bank Managing Director & CEO Baldev Prakash today rolled out the scaling up of Gold Loan Scheme under the slogan “Cash in Need, Gold Indeed” to 150 designated branches in an event held at the Bank’s corporate headquarters. The launch event was attended by Bank’s General Managers, Deputy General Managers and other senior officials. The scale-up will see 152 designated J&K branches extending easy , economical and speedy loan facility to customers simply after pledging their Gold Ornaments and Jewellery. The bank offers concession of 50 bps (1/2 percentage point) to women borrowers under the revised scheme which has been aligned with the requirements of borrowers at competitive pricing. While commending the concerned department for devising a customer friendly scheme, MD &...

Jammu Kashmir’s Lieutenant Governor Manoj Sinha Friday said that 3.65 pilgrims performed the annual pilgrimage of Amarnath this year and the figure is the highest in the past five years. “The annual pilgrimage has concluded with the Samapan Pooja of Chadi Mubarak. In total, 3.65 pilgrims performed darshan at the cave shrine of Amarnath. The figure is highest in the past five years,” Sinha said addressing a press conference here, as per news agency—Kashmir News Observer (KNO). He said that due to the cloudburst, yatra remained suspended for three days and due to the efforts of security forces, NDRF and SDRF ensured early resumption of the pilgrimage. The LG said that pilgrims from all over India came to the cave shrine and performed darsh of Shiv Lingum. Sinha said that during the ...