KCCI faces Rs100 billion losses in IoK due to 91st day of lockdown

SRINAGAR (92 News) – Life in Indian Occupied Kashmir (IoK) continues to remain paralyzed on the 91st day of lockdown and communications gag as Kashmir Chamber of Commerce and Industry (KCCI) has faced losses to the tune of Rs 100 billion. Internet and pre-paid mobile services remain suspended while educational institutions have failed to attract students. Public transport, too, is off the roads. Since the abrogation of Article 370 till the third week of October, the KCCI has faced losses to the tune of Rs 100 billion. Besides, the 91-day-long shutdown has broken the backbone of IT sector in the Kashmir Valley. The shutdown has rendered between 22,000 and 25,000 IT professionals in the Valley jobless. IT companies are incurring heavy losses. Around 32 IT companies, which have their units in the Industrial Estates Rangreth on the outskirts of Srinagar, now bear a deserted look. With the internet blocked in the Valley since August 5, all these units have been shut. Sheikh Parvez, CEO Srinagar Technology Consultants (STC) Private Limited, said electricity and internet serve as “oxygen” for the IT sector. “Since August 5, the government has denied this oxygen (internet) to us. How can IT companies work?” he asked. Parvez, who started his company in 2005 with only two people, before August 5 provided jobs to 200 people. He said due to the internet blockade he has been forced to lay-off his staff. Young entrepreneur Hakim Tajamul, who returned to the Valley from Dubai to set up his venture, said all his hard work has been undone. “We are now back to square one and have to restart afresh,” he said. Since 31 October, the valley has witnessed several protests and incidents of violence, especially in Srinagar city. On Friday, some incidents of protests and violence were seen in the valley, police said without giving further details. Meanwhile, IoK administration has prepared a list of over 450 people including businessmen, journalists, lawyers and political activists, who would not be allowed to travel abroad for a particular time period. Indian troops arrested a youth from Sopore area of Baramullah district.