Lockdown in Kashmir costs the region's economy more than 1 billion dollars: BBC report – Research Snipers

Lockdown in Kashmir costs the region’s economy more than 1 billion dollars: BBC report

British Broadcast Corporation (BBC) has reported that according to the industry experts, the curfew and communication blackout in the Indian-held Jammu and Kashmir has cost the region’s economy more than 1 billion dollars in two months.

The curfew imposed by the Modi-led government of India in the occupied mountainous valley has entered 66th consecutive day today.

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The article published by BBC says, “Two months on, the situation is far from the normal. The internet and mobile phone service remain suspended, public transport is not easily available, and most of the businesses in the valley are shut—some in the protest against the government of India.”

The article further said that there is also a shortage of skilled labour, as some 400,000 migrants have left the valley since the lockdown began on August 5. What’s more, the streets are deserted and devoid of the tourist business which had supported up to 700,000 people.

An official of the Indian government, who didn’t wish to be named, says that they are waiting for a financial package from the federal government of India. The British Broadcasting Corporation further reported that the Kashmir Chamber of Commerce and Industry (KCCI) estimates the shutdown has already cost the region more than 1.4 billion dollars.

On the other hand, thousands of jobs in the Indian-Occupied Jammu and Kashmir have been lost.

“There are around 3,000 hotels in the mountainous valley and all of them are empty. The owners of the hotels have loans to pay off and daily expenses to bear,” an owner of the local hotel in valley told BBC.

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