Eid markets down due to uncertainty over 35A

Eid markets down due to uncertainty over 35A
  • 24
    Shares

ITIFAQ LONE

Srinagar: Ahead of Eid-ul-Azha, markets in Kashmir are not witnessing the “usual rush”. Traders say they have “stopped” investments as they are apprehensive of losses. The “cautious spending”, according to trade organisations, is due to the upcoming hearing of Article 35A in the Supreme Court because of which there is “political uncertainty” in the state.
Farhan Kitab, chief spokesperson of Kashmir Traders and Manufacturers Association (KTMA), told Kashmir Reader, “This is not the first time that the rush is low and business is down. People of the valley are saving money because of the Article 35A hearing after Eid.”
“We have stopped investing in business for a while as we are afraid that after August 27, which is the scheduled date of hearing on Article 35A, a long strike may follow,” he said.
“We cannot risk our investments as we rely on general public,” he added.
Farhan said that despite Eid discounts being offered, people are trying to fulfil just “basic necessities” and are “cautious” about what may happen.
Several other traders and shopkeepers told Kashmir Reader that customers are withholding money for “safety” as a state-wide agitation may start anytime.
Sahiba, who was shopping for the festival today, said that the situation in Jammu and Kashmir cannot be “trusted”.
“You need to have some savings for times of eventualities’. The challenge to the state subject laws has affected every citizen of Kashmir. If the laws are abrogated, the consequences could be grave,” she said.