NIA raids 4 locations in terror-financing case
Srinagar, June 15
The NIA on Wednesday conducted multiple raids at the businesses of Line of Control (LoC) traders for allegedly using funds for militant activities in J&K. NIA sleuths, along with police and CRPF personnel, raided three locations in Baramulla and one in Handwara in connection with the terror-financing case, a spokesperson of the agency said. During the search, digital devices along with “incriminating documents” have been seized, the NIA spokesperson said.
In October 2008, the trans-LoC trade was started as a confidence-building measure between New Delhi and Islamabad towards resolving the Kashmir issue and bringing the people of divided Kashmir together. The duty-free trade was carried out on a barter pattern and did not involve any exchange of currency.
LoC traders on the radar
- India and Pakistan had started cross-LoC trade in October 2008, but smuggling of narcotics, weapons and fake currency surfaced.
- Noting the use of barter trade to promote terror activities in the Valley, New Delhi suspended it in April 2019.
In a week, the trade used to take place four times through the Salamabad centre in Uri and Chakan-Da-Bagh crossing point in Poonch, close to the LoC.
As the trade continued to grow, it also hit controversies as traders in India complained that the zero-tariff barter arrangement with Pakistan was being violated through under-invoicing and the exchange of third-country items. The third country items entering India became cheaper in Kashmir and would give tough competition to their importers in other parts of the country due to high tax.
The claims of seizure of narcotics, weapons and counterfeit currency from trucks coming from Pakistan triggered concerns, so the trade was suspended in 2019.
