(MENAFN - KNN India) BBIA hails MHA's decision to suspend cross LoC Trade
Jammu, Apr 20 (KNN) Bari Brahmana Industries Association (BBIA) has hailed the decision of Ministry of Home Affairs (MHA) to suspend the cross LoC trade.
MHA issued orders to suspend the cross LoC trade in Jammu and Kashmir with effect from April 19.
'This action has been taken as the Government of India has been receiving reports that the Cross-LoC trade routes are being misused by the Pakistan based elements for funneling illegal weapons, narcotics and fake currency etc, MHA said in a statement.
While appreciating the Government decision to suspend the cross LoC Trade for the time being to revisit the present Standard Operating Procedure (SOP) in a view to plug the loop holes, the members present in the meeting raised their serious concern in respect of non-inclusion of majority of industrial products being manufactured by MSME sector of Jammu & Kashmir (J & K) in the previous SOP.
The meeting was held under the Chairmanship of Lalit Mahajan to discuss the current scenario of Cross-LoC Trade for industrial sector in the tight of suspension by MHA.
BBIA said 'It is worthwhile to mention here that as per the previous SOP, only those items were included for cross LoC trade which were "Produced or manufactured in the both parts of the state".
However, it added that the majority of the items traded since 2008 till date were neither produced nor manufactured in the State which we termed as a clear violation of previous SOP by the implementing agencies.
The association said that MSME sector of our state is suffering due to locational disadvantages & shallow market avenues as it is difficult for them to sell their products in the neighboring states as well as in the neighboring countries.
If an opportunity is provided to the unit holders to sell their products through cross LoC trade, it will boost the confidence of the industrial units and overall economic development of the state, it added.
BBIA said 'We draw the attention of Home Minister that at present there is an ample scope for the trading of industrial goods being manufactured by the MSME sector through cross LoC trade which includes Ferrous & Non Ferrous Products, Pharma & Health Care Products, Food Products, Packaging Material, Pesticides, Building Material, Paint Hardware, Electrical Goods, Garments, and Blankets & Carpets etc.
It stated that the trade permits should be given to the registered industrial units on the basis of permanent registration certificate of industrial units issued by the industries departments or through deemed trade transactions through the traders with the banking facilities instead of barter trade at present to streamline the financial transactions.
It was further resolved in the meeting that Government of India & Pakistan should take initiatives for holding Buyer Seller meet of the stake holders of Industries & Trade of the State on regular basis to explore the market for the items manufactured/produced for cross LoC trade.
The association requested Home Minister, Raj Nath Singh, and state Governor Satya Pal Malik to kindly intervene in to the matter and issue necessary directions for the inclusion of all the Industrial items being manufactured or produced within the state of J & K while framing the revise SOP guidelines for the cross LoC trade.