Khawaja Farooq Renzushah chairman Liberal Democracy Movement and its president Alama Bashir Kashmiri Thursday said stone era type barter exchange LoC Trade is not only embarrassment and shame to all kinds of economic advances of present era but this is absolutely unconstitutional system amounting to money laundering and tax evasion process helping drug trading and Surat based garment trading , Maharashtra banana trading, American Almond trading and Karachi based spice and basmati trading rather than helping Kashmiri traders or manufacturers.
While deliberating LoC trade issues at Kashmir Development workshop which was attended by Javaid Tota, Moulana Hashmi, Dr. Yatoo, Haji Abdullah, Tosamaidan movement president Moulvi Maqbool, Mian Showkat Jan and prominent personalities, speakers were of this opinion that in present era barter system amounts to money laundering activity for which constitutional and financial structure have no provisions to justify. Even drugs are being exchanged through this barter method.
“The pharma companies of India are pumping medicines with particular brands which are later on sold on 500 percent profit in different markets.Click Here To Follow Our WhatsApp ChannelThe Almonds, Giries, Spices from California & Qandahar are being smuggled in the name of PoK production & from LOC directly being taken to Indian trade markets after avoiding import duties on such items. Similarly Banana which are never being grown in Kashmir are being traded on multi crore basis by Bombay based traders on daily basis .All such activities have deprived Kashmir to take benefit of this trade,” they said.
“The doctrine of Liberal democracy can facilitate law makers to enact local currency laws to make every citizen of J&K as beneficiary of this trade and cover permission of LoC trade on all items irrespective of limiting it to few specific obsolete items. Liberal democracy can help both countries to conduct free trade as they do it through UAE countries amounting to billion dollars of trade. It will not only push economy of J&K up but Borders of war can turn to silken routes of well woven economy,” they added.