news details |
|
|
| Violations of SOP in cross LoC trade alleged | | 'Many traders allowed to trade under fictitious titles' | | EARLY TIMES REPORT
Srinagar, June 13: In an attempt to restrict the benefits of the cross LoC trade to some blue eyed traders, authorities have allegedly allowed a handful of them to operate under fictitious titles in clear violation of the Standard Operating Procedure (SOP) .
Sources revealed that most of the traders are operating with more than one firms registered in their names, in order to gaining the maximum benefit by killing competition. "At least a score of traders who have managed to enlist more than three firms each in their names whereas some traders are finding it difficult to even enlisted their only firms", alleged a trader operating from the Uri TFC. "These traders have floated many fictitious firms and fraudulently managed to get enlisted, he alleged.
Pertinently there are more than 500 firms enlisted for cross LoC trade at Salamabad TFC alone.
The aggrieved traders appealed government to review the trader's lists and deregister the traders operating under more than one titles. "Government must revise the SOP with Pakistani authorities and allow more and more traders to take benefit from the trade which will also enhance competition," they demanded.
Traders also expressed their concern over the items that are being traded to the other side of the LOC. They reiterated the demand of tradable items should be confined to the local production only. "Union Home Secretary R.K Singh during his recent visit to the state is believed to have told traders that it wasn't necessary that the items exported across the LOC should be local only. "It is not necessary that only local items should be exported to POK", Singh was quoted by sources of having said.
Meanwhile Custodian of the Cross LoC trade Nazir Ahmad Baba told that the list of the traders was being revisited.
"We have initiated a process to scrutinize the lists and we will try to encourage more unemployed youth to get involved in the cross LoC trade", Baba said. He said that the items will also be probably revised this year and all depends upon the two governments that have ultimate right to revise the list of the items.
Pertinent to mention here that items worth Rs 558 crore have been exported to PoK, where as items worth Rs 881 crore (Pakistani) have been imported since the trade began through Slamabad Uri in October 2008. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
