Line of control trade resumes after four weeks

SRINAGAR: 

Cross-Line of Control (LOC) trade has resumed on Wednesday after four weeks although on a low note as only 39 trucks were exchanged, according to Press Trust of India.


Total of 24 trucks carrying mainly red chilli, tamarind and other spices crossed to Azad Jammu and Kashmir while 15 trucks loaded mostly with dry fruits crossed to this side, officials said. Total value of goods exchanged was Rs32.6 million, record low for 2011.


Trade was at its peak in April when around 200 vehicles crossed the LoC and exchanged goods worth around Rs200 million in two days.


Cross-LoC trade is conducted every Tuesday and Wednesday on barter basis, but was suspended since May after traders accused Indian authorities of neglecting their demands.


Traders have demanded exempting cross-LoC trade from purview of Value Added Tax, as they claimed that trade between divided parts of Kashmir should be treated as intra-state business.


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