Rs 20,000 cr loss during lockdown: Traders

Srinagar, August 11

The Kashmir Trade Alliance (KTA) today said the five-month-long Covid-19 lockdown had dented the economy of J&K by Rs 20,000 crore.

“As per our preliminary estimates, we have suffered losses worth Rs 20,000 crore in the five months of Covid-19 lockdown. We are presently drafting a detailed report that will be released after August 18 when the lockdown completes five months,” said KTA president Aijaz Shahdhar.

The KTA said the lockdown had not led to a decrease in Covid-19 positive cases and therefore the government should relax the same.

“In the first phase of the lockdown, shops, businesses and shopping malls remained closed for three consecutive months. During this period, the number of cases still increased. In the second phase, shops in Srinagar and other districts were kept closed for 20 consecutive days, but even during that period, the number of coronavirus cases increased. After Eid, shops and businesses have been closed but we still have around 500 positive cases every day,” he said.

Shahdar advised the government to withdraw restrictions and instead ensure implementation of Covid-related standard operating procedures in the markets. — TNS