Published On : Fri, Aug 26th, 2016

Kashmir’s economy suffers body blow, Rs 6,400 cr loss in 49 days

Kashmir Protest

Srinagar/Nagpur: The ongoing unrest in Kashmir has led to a whopping Rs 6,400-crore loss to the economy of the Valley, with businesses being badly hit due to curfew and separatist sponsored strikes.

Tourist and other business activities in Kashmir have come to a halt for the past 49 days after protests erupted in Kashmir following the killing of Hizbul Mujahideen commander Burhan Wani in an encounter with security forces in south
Kashmir’s Anantnag district on July 8.

Clashes between protesters and security forces have claimed the lives of 66 people and left thousands of others injured.

Shops, business establishments, private offices and petrol pumps have been shut as the separatists groups have called for a complete strike to protest the civilian deaths in the violence after Wani’s killing.

“Kashmir is suffering losses of about Rs 135 crore daily. This estimates to over Rs 6,400 crore so far,” Mohammad Yaseen Khan, president Kashmir Traders and Manufacturers Federation said.