Jammu businessmen alone sufer Rs 500 cr loss KT NEWS SERVICE JAMMU, July 9: The business community has suffered a major set back in the state due to unrest that prevailed over the issue of forest land transfer to Shri Amarnath Shrine Board (SASB). The Amarnath row has cost hundreds of crores to business community alone in both summer and winter capitals of the state during the last three weeks. As far as Jammu region is concerned, the ten-day-long agitation over land transfer to SASB has cost a whopping Rs 500 crore to the state exchequer while due to week-long unrest in Kashmir Valley, the trading community has suffered losses worth crores of rupees. The strike caused an estimated loss of Rs 50 to 60 crores to tourism industry including 'Shikarawalas', hoteliers and houseboat owners. It may be mentioned here that Jammu as well as Kashmir region remained tense during the last three weeks over the transfer of forest land to SASB by the state government. Both the regions had also observed complete shutdown days and public property worth crores of rupees was damaged by protestors. Talking to the Kashmir Times, the president of Associated Chamber of Traders Federation Yash Pal Gupta informed that the ten-day-long violence and bandh in Jammu region has cost Rs 500 crores loss to trading community. "If we put average loss of Rs 50 crore per day in Jammu region, the losses work out to be over Rs 500 crore during the last ten days," he maintained. He further maintained that besides the trading community, the industrial sector has also suffered huge loss due to curfew and bandh call, adding "As curfew was imposed in the region, the industrialists could not hire labourers during the past ten days." "As there was no transaction in the market, the interest on bank loans further added to the woes of traders and transporters. Besides this, the vegetable and fruit traders also suffered losses worth crores of rupees. All the government and private offices, including hospitals and educational institutions were affected due to the strike," he added. The president of Chamber of Commerce and Industry Ram Sahai painted a different picture and informed that the ten-day-long agitation has cost a whopping Rs 150 crore to state exchequer. "The assessment of losses is a difficult exercise but Jammu region has suffered a 'pure loss' of Rs 150 crore during the last ten days," he maintained, adding that the unrest over land transfer to SASB has directly affected traders, hoteliers and transporters. He said that it would take next eight to nine months to compensate these losses. He, however, asserted "The losses suffered by the people were a genuine cause and I don't think they mind for it. We will continue to extend our support to Shri Amarnath Yatra Sangharsh Samiti and such losses could not deter our faith and determination." When contacted, Divisional Commissioner Jammu Sudhanshu Pandey maintained, "The assessment of such losses is a complicated process and it is usually done through proper survey. As it is not a simple exercise, the assessment made by the trading community would be very general." KTNS Srinagar adds: The Kashmir Chamber of Commerce and Industries (KCCI) suffered losses worth crores of rupees due to the two week long strike in Valley and Jammu region. General Secretary, KCCI, Abdul Hamid Punjabi told Kashmir Times that it was not possible for the trade union to assess the losses but apparently the industry suffered losses in crores. Thousands of truck loads of fruit and handicrafts could not be exported or delivered at sea ports at the right time due to the two week long the strike. He said that there was a huge demand of Kashmiri fruit and handicrafts but truck loads of fruit including easily perishable cherry rotted due to strike. Huge quantities of a unique variety of apple mainly produced from Shopian also rotted due to strike. Sources in Tourism department informed, "The strike had a great bearing on the tourism industry in its peak season in valley. The strike caused an estimated loss of Rs 50 to 60 crores to the industry including Shikarawalas, hoteliers and house boat owners." It is in place to mention that due to scorching heat elswhere in India the month of June witnesses a tremendous rush of domestic and foreign tourists in Kashmir valley. The rush of tourists has started declining now because in most parts of the country; the educational institutions have opened up again after summer vacations.