Traders incur losses as biz activities elude Valley ahead of Eid

M Aamir Khan

Tribune News Service

Srinagar, May 18

Despite Eid-ul-Fitr round the corner, markets continue to wear a deserted look amid the Covid-19 lockdown. Usually, marketplaces bustle with activities before Eid, but this time even shopkeepers are not keen to open despite mounting losses.

“Eid is one week away but the lockdown continues to hit businesses. One day of lockdown causes losses of Rs 140 crore to the Kashmir’s economy. Moreover, the shopkeepers do additional business of Rs 300 cr during the week before Eid. This year, there is no chance of opening of shops as the shopkeepers are too scared to open. This will add to the losses already suffered over the past two months,” said Kashmir Trade Alliance (KTA) president Aijaz Shahdhar.

As per the KTA estimates, the two-month long lockdown has already dented the Valley’s economy by Rs 8416 crore.

“We were yet to recover from the losses of last year (post abrogation of Article 370 on August 5) and now, we are suffering yet again,” Shahdhar further said.

The Kashmir Chamber of Commerce and Industries (KCC&I) had pegged the losses at Rs 17, 878 crore in the first 120 days after August 5, 2019. The KCC&I had also stated that around 4.96 jobs were lost during the period.

Abdul Rauf, general secretary of the Magarmal Bagh Traders Federation, said though several shopkeepers were hoping for a respite ahead of Eid, others were undecided.

“We have little hope from the government as packages announced have always turned out to be jugglery of words. While wholesalers dealing with eatables are doing some business, other sectors are at a dead end. The shopkeepers are undecided whether to open or not. Some are looking forward to a plan where some business activities resume but others are reluctant to open as coronavirus positive cases have seen a sharp increase during the past few days,” he said.

However, Imtiaz Dar, a grocery seller, regretted that there was no plan. “Even liquor shops have opened outside, but in Kashmir, you will find the authorities are not allowing groceries and vegetable sellers also. There has to be a plan for the business activities to pick up. We cannot afford to remain in the lockdown forever,” he said.