SRINAGAR: Market sales in Kashmir were only at 50 percent compared to previous years leading up to Eid-ul-Adha.
President of the Kashmir Chamber of Commerce and Industries (KCCI), Javid Ahmad, stated that they did not have an exact percentage of loss, but there was a decline of 50 percent in sales.
“We cannot provide an exact percentage of loss for Eid-ul-Adha, but there was a difference of over 50 percent compared to the previous year. Sales in Kashmir were at a minimum of 50 percent loss,” he said.
Ahmad cited a decline in sales in the Kashmir handicrafts market and losses sustained by the horticulture sector last year as reasons for the decline in Eid sales.
He mentioned that inflation in businesses worldwide contributed to the sluggish market.
“We are certain about the 50 percent loss because the horticulture sector did not receive the market rates for their produce last year,” he said.
The chamber president emphasised that the horticulture sector is a significant industry worth £9000 crore and involves thousands of families. However, fruit growers did not meet their expectations.
He also noted that the handicraft sector experienced a decrease in turnover from £2500 crore to £500-600 crore.
“While tourism is performing well, it alone cannot compensate for the losses,” he said.
Ahmad stated that KCCI remains optimistic about better sales and market conditions in the coming months. “We have presented our suggestions to the government. Until our demands are met, we are doing everything possible to recover from the losses,” he said.
Prominent industrialist Shakeel Qalander also acknowledged that inflation in essential items and low earnings among business communities were significant factors contributing to the decline in business during Eid.
He concurred that the loss in business during Eid exceeded 50 percent—(KNO)
