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| Trade Money across LOC in J&K being used to finance LET. | | | Early Times Report
Jammu Nov 27: Trade across LOC in J&K started in October 2008 via two cross points, Slamabad in Baramulla in Kashmir and Chakan-da-bagh in Poonch in Jammu. The trade was to be carried out on ‘barter system’ without any cash transaction. A total of 21-items were approved for trading cross LOC. The idea of ‘across the border trade’ was mooted by some protagonists of encouraging ‘confidence building measures’ (CBM) across the LOC. It was expected that outflow of goods from India to POK will be much larger than the imports from POK as India had much more items of export than our counterparts in Pakistan. But surprisingly the case has been completely reverse and POK has been exporting goods worth much more than what is being exported from India. Some of the recent month-wise figures of import –export across the border are given hereunder:-
Date. POK-export. India-export.
7th, Sept. Rs 2.16 Rs 1.16
8th Sept 2.73 1.12
21st Sept 2.55 1.07
28th Sept 1.96 1.06
29th Sept 2.15 1.14
23rd Nov. 2.39 1.33
24th Nov. 4.62 2.33
The above shown figures revealed that there is regular flow of money through this trade channel. How this deficit in Barter Trade System is being neutralized, is not understood. It is being suspected that there is a deliberate plan to pump-in this extra money for the benefit of terrorist organizations for supporting their antinational activities in the India particularly in J&K.
Goods worth 272.13 crores have been traded via these two points till date. Goods worth Rs.160.21 crores from POK to India and Rs.111.92 crores from India to POK. The net trade deficit was 48.29 crores in favor of POK. This trade deficit was to be met by sending goods worth 48.29 crores to POK and not by making payment in cash as per the barter system. How was this amount is adjusted is not known.
Reports reveal that people involved in this trade are indulging in ‘Hawala’ transaction and passing on this money to LET militants for terrorist activities in J&K. Some traders linked with this trade across the LOC have been found indulging in providing ‘Hawala’ money to terrorist organization helping them to carry out terrorist and antinational activities. This was confirmed when Sadar Police Station in Srinagar registered a case against five persons who were involved Hawala transaction in which Rs 13, 85, 000/- obtained from sale of goods from across POK was distributed among terrorists and others associated with LET terrorist activities.
This amount is only a fraction of total amount of Rs 48.29 which the state police have been able to detect. What happened to the rest of the amount? How it was adjusted? To whom it was paid? Who are the people involved in these antinational and unlawful activities? Are the intelligence agencies alive to the risk of misuse of this ‘trade money inflow’? These are some vital questions which are still waiting for an answer.
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