Jammu: Suspension of cross-LoC trade between Jammu and Kashmir and Pakistan-administered Kashmir (PaK) for the last 16 weeks has resulted in a loss of over Rs 80 crore, an official said today.
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 were 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.