BUSINESS

Kashmir economy has borne the brunt of three back-to-back lockdowns since the abrogation of article 370 in August 2019 resulting in the loss of a whopping Rs 45000 Crore. The month-long lockdown from April 30 to May 30 this year has registered a loss of Rs 5000 crore alone, reveal figures worked out by the trade bodies of Valley. According to the Kashmir Chamber and Commerce Industries president Sheikh Ashiq Hussain, the Kashmir economy suffered a loss of around Rs 17,878 crore in the first four months of restrictions and shut down in the valley post Article 370 abrogation by the Government of India in August 2019. This was followed by a nation-wide lockdown triggered by the Carona-virus pandemic in 2020 that cost Kashmir economy Rs 27,000 crore As per trade bodies, the ongoing Co...

As positive covid cases are continuously spiking in Jammu Kashmir (J&K), Jammu Pharmaceutical distributors held a press conference and appealed to the administration of Jammu Kashmir, to impose seven days lockdown from Saturday onwards, to control the spread of the virus. While addressing the media, they said that no option was left except for imposing a lockdown to stop its spread. "If this alarming situation remains to continues, we don't have preparation to tackle it," said the distributors. They said that later the administration will have to impose extended lockdowns to contain the virus. "If the lockdown is imposed right now, it will put less burden on the common people, a lockdown later will puncture the already fragile economy of Jammu Kashmir." Meanwhile, they called ...

The Jammu Kashmir administration on Wednesday issued a time table dividing the markets into two groups and detailing that shops in each group will be open only for three days. According to the table accessed by The Kashmiriyat the admin has said that on Monday, Wednesday and Friday Cloth and Readymade Garment Shops, Boutiques, Tailor shops, Hair Saloons, Cosmetic Shops, Beauty Parlours, Gyms and Spas, Jewellery shops and showrooms, Hardware, Cement & Building material Stores, Sanitary goods stores, Glass Houses, Shuttering materials, Gift Shops, Florists and shops dealing with Pooja related items, Mobile shops, Electrical Appliances Shops, and Watch & Electric Repairs Shops will be open. On Tuesday, Thursday and Saturday, Shops including Groceries, Departmental Stores, Confec...

Suhail Dar As the month of Ramdhan began in Kashmir on Wednesday, long queues were witnessed outside mutton shops in urban and rural across the valley. A small fight erupted outside a mutton shop where a woman tried to argue with the butcher that he was selling the mutton at higher rates. "The admin has said 535, why are you selling at 600," she asked. Upon which the butcher replied, "Go and buy vegetables, this is not charity, if you do not have money, complain to whosoever you want to." Though the administration in Jammu Kashmir broke the months-long impasse with the mutton dealers/sellers, throughout the Kashmir valley, mutton is being sold at exorbitant rates. The urban areas are setting the trends for the rural ones, so there is hardly any difference between the rates. Though th...

Banking services for all private and public sector banks will be available only for 2 days between March 27 till April 4. All customers should note that only 2 working days between March 27 to April 4. Customers can complete their bank-related work this week before March 27 or wait till April 3 to complete their work. On account of the second Saturday and Holi festival, banks will remain closed for three consecutive days from March 27-29 all over the country. The bank will continue its services for only two days in between, which are March 30 and April 3. On account of the last day of the financial year on March 31, bank services on March 31 will remain suspended even though it is not a holiday. Here’s a list of operation details for the specified dates: March 27- Closed bec...

Rubeena Tabassum, who hails from Yarikalaan in the Chadoora area of Central Kashmir's district Budgam is a florist who takes pride in being a successful and inspiring face of Kashmiri businesswomen. Rubeena shared the journey from getting brickbats from the banks to start her business to winning J&K Bank’s Woman Entrepreneur Award in 2007. Rubeena said that she got married at a very young age when she was in 12th grade. She completed her high school from her in-law's home. Being a dedicated student she finished her graduation from the District College and is now pursuing MBA through IGNOU. Rubeena said that it was in 2006 when she thought of starting her business when she heard a radio program ‘Manzilein aur bhi hain’. "I got to know of an initiative by JKEDI (J&K Entre...

With no letup in tussle between the government and mutton dealers over the rates, Kashmir’s mutton industry has suffered a cumulative loss of Rs 400 Crores in the past four months. The dealers opine that the marginal loss on daily basis is Rs 3.20 crores. All Kashmir Wholesale Mutton Dealers Association (AKWMDA) president said that Kashmir was consuming almost Rs 4 Crore worth mutton a day. “The mutton (Outside livestock) was being consumed at the cost of Rs 4 Crore a day before the tussle, but now the meat consuming has declined by at least 80 percent,” he said, adding that in last four months, the people affiliated with the trade have suffered a marginal loss of Rs 15 Crore, saying that the sale loss is too much high. He added that only 20 per cent meat is being consumed acro...

The airfare on flights operating from New Delhi to Srinagar is sky-high leaving the passengers especially the student community aghast. From Delhi, the airfares to Kabul in Afghanistan, Dubai, and many other international destinations are cheaper than the fares to Srinagar from the Delhi Airport. A ticket on the 21st of February from New Delhi to Srinagar costs 10,467 rupees at the cheapest while the cheapest ticket from the same airport to Dubai on the same date costs 6,775 INR. The issue has time and again been picked up by the business community and politicians, however, the ticket prices remain sky-high throughout most parts of the year. The air prices are making it unaffordable for common people to travel by air which is the only mode of connectivity for Kashmiris wit...

Sajad Hameed A Local e-commerce website Jhelum Cart launched their application here at Aksa Mall on Sunday. Jhelum Cart’s dedicated seller application provides sellers ease of managing their inventory and a secure platform for an improved engagement with customers. The website aims to provide a foolproof e - commerce platform, safe and enjoyable for both buyers and sellers with themes to achieve efficiency, user-friendliness, and empowerment. The application is owned by a trio of friends, Ahmed Nabeel, Naveed Qadir Wani and Arif Ahmed Najar.buy cialis super force online https://www.adentalcare.com/wp-content/themes/medicare/languages/en/cialis-super-force.html no prescription Co-founder of the website, Ahmed Nabeel made the audience acquainted with the idea of Jhelum Cart through a ...

The central government Monday proposed a 30,757 crore grant for Jammu and Kashmir Union Territory for the next fiscal. Finance Minister Nirmala Sitharaman made the allocation for Jammu Kashmir while presenting the union budget for the coming fiscal. The grant for Jammu and Kashmir is equal to last year's transfers. This means that it is unlikely an increase in Jammu Kashmir's Budget, likely to be presented later this month in Parliament. KNO