Trade, Travel links major CBMs between India-Pak: Rather

Excelsior Correspondent
JAMMU, Apr 7: Maintaining that Cross LoC trade is a major Confidence Building Measure (CBM) to bring the two neighboring countries close to each other, the Minister for Finance & Ladakh Affairs, A. R. Rather today called upon the External Affairs Ministries of India and Pakistan to broad base the trade by removing all impediments to make it a hassle free and mutually beneficial economic activity, adding that Cross LoC trade also involves cultural and emotional attachments of the people living on two sides of the borders.
“Not only Cross LoC trade but Cross-border travel restrictions also needed to be relaxed to remix divided families of the 1947 partition”, Mr. Rather said while speaking at a function organized to release, the first of its kind, survey report on Cross LoC Trade based on the opinion poll and experiences of the traders engaged with the trade.
The survey report has been formulated by the Indus Research Foundation (IRF), in association with the Centre for Peace, Development and Reforms based at Mirpur, PoK and supported by Conciliation Resources, a London based Peace-building organization.
Mr. Rather said people across the Indo-Pak borders are geographically and culturally akin to each other adding that time has proved that 6-long decades of manmade partition couldn’t diminish their emotional and cultural attachments. He said, given the significant developments on global liberalization, time is ripe, for the rulers of both sides, to ponder on the yearning among the people of two sides for peace and coherence and remove all the restrictions in the way of free movement and free trade across the borders.
Mr. Rather said a Banking Model has been proposed for facilitating banking service for LoC trade by the Department of Financial services, Government of India (GoI) to replace existing barter system, adding that the matter has been taken up with the Government of Pakistan for their consent.
Maintaining that the Cross Loc trade is gaining momentum as an important business activity, Mr. Rather said the State Government especially, Chief Minister Omar Abdullah is very keen for opening more trade routes between two sides of the borders with adequate banking mechanism and tele communication facilities adding ISD facilities are already in place to the trades organization of both the sides and officers related to the Cross LoC trade.
The function was attended by a galaxy of economists, academicians, representatives of business chambers and key stake holders involved in the Cross LoC trade.