West Asia conflict: Praying for Iran to emerge victorious, war to end, says Mehbooba Mufti
Kathua/Jammu (PTI): PDP president Mehbooba Mufti on Sunday said she is praying to Allah for Iran to emerge victorious in the West Asia conflict, and for the war to come to an immediate end, calling it essential to restore stability and curb the “escalating” inflation.
She also accused the National Conference government in Jammu and Kashmir and the BJP-led Centre of “completely failing” to resolve people’s problems.
“Iran has had very deep relations with India. It was unfortunate that the prime minister (Narendra Modi) visited Israel just before the war began, which did not send a good message,” Mufti told reporters on the sidelines of a PDP rally at Hiranagar in Kathua district.
“Jammu and Kashmir used to be called ‘Iran-e-Sagheer’ (Little Iran), which shows how close our ties have been. Islam came to us through Iran, and we share many similarities.
“The way the people of J-K have come out on the streets for Iran – collecting money, offering help, donating gold jewellery and household items – shows a great spirit,” she said.
The former J-K chief minister said they are praying to Allah for Iran to emerge victorious, and for the war to come to an end.
“The war is having a very negative impact on India as well. The whole world is affected, and things are becoming more expensive,” Mufti said.
Stating that a large number of people from India, including Jammu and Kashmir, work in the Gulf countries, the PDP chief said, “They will naturally return if conditions worsen, and unemployment will increase. Therefore, the war should stop as soon as possible, so that peace can be restored and inflation can also be brought under control.”
The war in West Asia, which began after the US-Israel combine attacked Iran on February 28, prompting retaliatory strikes by Tehran across the Gulf region, has now stretched into its fifth week, with no immediate end in sight.
It has impacted the global economy, including oil and gas prices, which have had repercussions on the lives of citizens across the region.
The PDP organised the rally to welcome former Congress district general secretary, Kavel Jarotia, into the party along with his supporters.
Mufti also said that after the abrogation of Article 370 in 2019, the people of J-K have faced significant disempowerment.
“That is why they have advocated the passage of a Private Member’s Bill moved by the PDP seeking a statutory framework for reorganisation of administrative divisions, districts, sub-divisions and tehsils in the Union territory,” she said.
“People feel they have no authority left in their hands. The far-flung areas, be it the Chenab Valley, Pir Panjal or the Bani-Basohli region, are very remote and require proper administration.
“That is why new districts should be created, and new divisions should be formed to give relief to people. We have introduced a Bill. Let’s see what the government does now,” Mufti said.
On the performance of the National Conference government, she said people had a lot of expectations from it.
“The National Conference got 50 seats, and people felt that their problems would be resolved. People had similar expectations from the BJP, thinking that since it is in power in Delhi, it would help address the issues here. But it seems both parties have completely failed to resolve people’s issues,” Mufti said.
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Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
