Banking, Telecom Facility Critical To Cross-LoC Trade: Mufti Mohammad Mufti

21 November 2015

Poonch: Describing cross-LoC trade as the biggest breakthrough in the history of the state, Chief Minister Mufti Mohammad Sayeed today placed high priority on extending telecom and banking facility to broaden the scope of business. He also favoured inclusion of additional tradable items to give fillip to local industry in the state. 'I will take up the matter at the highest level so that Pakistan is convinced to agree to the proposal in the next meeting of the Joint Working Group between the two countries,' he said, while referring to extending telecom and banking facilities at both Salamabad (Baramulla) and Chakan da Bagh trading points. The Chief Minister said this while addressing a high-level meeting at Trade Facilitation Centre (TFC) during his visit to Poonch today. Reiterating his resolve to take forward trade across Line of Control (LoC), Mr Sayeed said he was pleasantly surprised by the volume of trade transacted at both Salamabad and Chaka da Bagh through barter system. 'It would be my endeavour to take this trade to the next level by putting in place banking and telecommunication facility to demystify the trade, for which we expect a positive response from Pakistan,' he added. Mr Sayeed said till such time a decision is taken to start banking and telecom facilities, an institutional mechanism needs to be evolved to facilitate periodic meetings between authorised bodies headed by respective Deputy Commissioners and representatives of trader organisations for streamlining the business between Chakan da Bagh and Rawalakote.