NIA arrests two cross-LoC traders in terror funding case
29/06/2022
SRINAGAR, Jun 28: The National Investigation Agency (NIA) has arrested two persons in a case related to alleged use of proceeds of cross-LoC trade to fund terror activities in Jammu and Kashmir, an official said on Tuesday.
Tanveer Ahmad Wani of Achagoza-Rajpora in south Kashmir's Pulwama and Peer Arshad Iqbal, alias Ashu , of Khwaja Bagh in north Kashmir's Baramulla were arrested during searches carried out in the valley on Monday, a spokesperson of the NIA said.
"The arrested accused are cross-border LoC traders and were handling several cross-LoC trade firms registered in their own names or in the names of their friends, family members and relatives. They used to provide funds to the members of various terrorist organisations, over ground workers and stone pelters," the spokesperson said.
The cross-Line of Control (LoC) trade was started in 2008 via two trade facilitation centres in Baramulla and Poonch districts. The trade has been suspended since April 2019.
The NIA said the case, registered by it on December 16, 2016, pertains to the generation of extra profits through cross-LoC trade mechanism between Jammu and Kashmir and Pakistan-occupied Kashmir and use of these funds for fomenting terrorist activities in Jammu & Kashmir.
According to the SOP of the trade mechanism, 21 articles were allowed to be traded between PoK and J&K and were based on a barter system.
During investigation, it has been revealed that extra profit was generated by over-invoicing of export articles and under-invoicing of import articles by the traders, the spokesperson said.
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