Cross-LoC trade was launched in 2008 via two Trade Facilitation Centres (TFCs) located at Salamabad, Uri in Baramulla District and Chakan-da-Bagh in Poonch District. As per the SOP of the trade mechanism put in place, 21 articles were allowed to be imported from PoK and exported from J&K. It was based on a barter system and no transaction of money was involved.
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After scrutinising several documents, it has come to notice that extraordinary profits were generated by excess import and under-invoicing of imported almonds by the traders. It has also been found that some of the cross-LoC traders of PoK are crossed-over terrorists and were backed by the terror outfit, Hizb-Ul-Muzahideen (HM). The trade was suspended in April 2019, it reads.
Investigation revealed that accused persons Tanveer Ahmad Wani & Peer Arshad Iqbal were Cross-LoC traders and were handling several Cross-LoC trade firms, registered in the names of themselves and their friends, relatives, employees etc. Both raised terrorist funds by excess import than the export and by under-invoicing of imported Almonds from PoK-based cross LoC traders, it reads.
The investigation has established that both accused were also in a trading relationship with PoK-based cross-border Hizb-Ul-Muzahideen terrorists. After raising the terror funds, accused Tanveer Ahmad Wani had provided funds in cash to the different terrorists of HM, JeM (Jaish-e-Mohammad) etc.
Accused Peer Arshad Iqbal used to provide funds to accused Bashir Ahmad Sofi, an ex-terrorist of HM. Further investigations in the case are in progress, reads the statement.