Vice President NC, Terms Economy Of IIOJK On Brink Of Collapse

ISLAMABAD, Jun 8 (UrduPoint / Pakistan Point News - 8th Jun, 2021 ) :In Indian illegally occupied Jammu and Kashmir (IIOJK), National Conference (NC) Vice President Omar Abdullah has said the economy of the territory is on the "brink of collapse" as every sector has suffered losses in the last two years.

According to Kashmir Media Service, Abdullah expressed his serious concern over "the soaring unemployment" in Jammu and Kashmir and the rising incidents of suicide among the youth.

"The economy of J&K, it goes without saying, is at the brink of collapse. There is no sector of its economy be it tourism, horticulture, transport, or trade that hasn't suffered losses in the past two years," Abdullah said.

The NC leader said the J&K's local economy is already on its "deathbed" due to the ravaging deluge of 2014 followed by demonetization and the successive lockdowns.

"The series of occurrences over the years also had a backbreaking impact on the people. The ongoing crisis has diminished all hopes of economic revival. The recently announced economic package is insufficient to bring the ailing economy of J&K back," he said.

Referring to the recent cases of suicides in the valley, Abdullah said the "increased occurrence" of suicides in Kashmir is a "physical manifestation of the sordid anti-youth policies' of the Modi government "pushing already aggrieved educated and skilled youth towards the wall".

"The successive clampdown and COVID-induced lockdowns have further compounded the woes of J&K youth by choking the already constrained job sector. There are thousands of unemployed medics, paramedics, engineers, graduates and post graduates waiting for job openings," he said.

"The situation has become much worse as the industrial sector, which is supposed to absorb the unemployed youths, continues to struggle," he added.

Abdullah said what little opportunities were provided by local tourism, manufacturing, handicraft and transportation sectors, have also been "clogged by the predatory impact" of tumultuous situations since August 2019 when the Centre revoked Jammu and Kashmir's special status in the shape of successive lockdowns.