Prominent Kashmir traders’ body has opposed Chief Minister Mehbooba Mufti’s move to introduce dollar as a currency for trade across the Line of Control (LoC).
Faiz Ahmad Bakshi, secretary-general, Kashmir Chamber of Commerce & Industry (KCCI), said the move was “ambiguous”. “It tends to tinker with the constitutional position and status of the J&K State in terms of Article 370 of the Constitution of India,” he said.
The KCCI warned that the move was “apt to stir up the sensitivities of the people of the State”. “It may lead to disruption of public order, which traders’ community cannot afford for having suffered great losses in the past,” Mr. Bakshi said.
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Though the traders’ body has welcomed Ms. Mufti’s pitch for opening more routes, it demanded increase in the goods items beyond the 21 listed ones for trade across the LoC.
Once an advocate of dual currency in J&K, Ms. Mufti on Monday suggested in the State Assembly that “to institutionalise banking for cross-LoC trade, trade can be done in dollars, which is a neutral currency”.
She pitched for new trading points — Kargil-Skardu, Jammu-Sialkote, Turtuk-Khapulu, Chhamb-Jorian to Mirpur, Gurez-Astoor-Gilgit, Titwal-Chilhan and Jhangar–Mirpur.
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More routes
Ms. Mufti’s pitch for opening more routes is getting support from the Opposition parties, such as the National Conference and the Congress.
In the Assembly, Asgar Ali Karbalie, Congress MLA from Kargil, supported opening of the Kargil-Skardu route, while Nazir Ahmad Gurezi, NC MLA from Gurez, called for opening of the Gilgit-Gurez route.
PDP legislator Muhammad Ashraf Mir on Wednesday said the former Chief Minister Mufti Muhammad Sayeed’s dream of cross-LoC trade “is yet to be realised”.