Bulldozer Must Roll on Blood Money Empires: Separatists’ Dirty Funds Built Hotels, Shops & Chaos in Kashmir

Srinagar, Aug 29 (ANN NEWS):

For decades, separatist leaders in Kashmir have publicly claimed to fight for “freedom,” but behind the curtain lies a dirty financial network that fuels both violence and personal wealth. Investigations and testimonies reveal that millions of dollars have flowed from Pakistan, UAE, and other foreign channels into the Valley — not for the welfare of the people, but to build private empires of hoteliers, politicians, and business elites.

Take the case of separatist leader Yasin Malik. Sources and intelligence records suggest that Malik directly handed over large sums of Pakistani cash to one prominent Srinagar-based businessman. Today, that businessman runs a flourishing enterprise, a stark reminder that separatist “blood money” has long been laundered into legitimate-looking businesses.

Similarly, Shabir Shah, once dubbed the “Darling of Pakistan” for his regular contact with the ISI, is alleged to have pumped foreign funds into multiple ventures across the Valley. Shah’s financial dealings, according to intelligence dossiers, reveal deep partnerships with local businessmen who helped mask the true origins of the money.

Hotels, Shops, and Factories Built on Blood Money
It doesn’t end there. Large hotels in Gulmarg, Pahalgam, and Srinagar have come up with “investment” routed through separatist networks. What looks like tourism infrastructure is, in many cases, the laundering of funds meant to destabilize peace.

Factories, shopping complexes, and even luxury outlets in Srinagar’s commercial hubs have similar stories — money pushed in from across the border, converted into assets, while at the same time financing stone-pelting, street violence, and radical propaganda.

Several politicians, many of them preaching “public service,” are in reality business partners of these enterprises. Large tracts of state land have been purchased at throwaway prices, often in collusion with corrupt officials. The nexus is clear: Pakistan sends money → separatists deliver to business networks → politicians and businessmen convert it into real estate and commercial empires.

The 1990s Banking Scam – How Businessmen Exploited Turmoil
After the eruption of militancy in 1999–2000, many businessmen in Kashmir took advantage of the disturbed situation to enrich themselves. Several influential families and traders obtained huge loans from nationalised banks, cooperative banks, and other financial institutions, but never repaid them.

Some of these loans ran into crores of rupees, meant for setting up factories, hotels, and export houses. Instead of repayment, the owners exploited the law-and-order collapse, citing “militancy losses” as an excuse. The result: businesses thrived, but banks turned into dumping grounds of unpaid loans.

Handicraft exporters who took loans for overseas orders but diverted funds into private properties.Hotel chains in Srinagar and Pahalgam that expanded aggressively in the ’90s despite being wilful defaulters.Transport and construction companies that pocketed loans in the name of “industrial growth” but never delivered projects.By the late ’90s, hundreds of crores were written off or marked as “non-performing assets,” crippling Kashmir’s banking structure. Ironically, many of these very businessmen are now celebrated as “respectable entrepreneurs.”Blood on the Streets
While separatists and their business partners enriched themselves, ordinary Kashmiris paid the price. Youth were brainwashed, schools were burnt, tourists were driven away, and the economy was crippled. The gun culture, fueled by this money, destroyed generations.

If Kashmir is to be truly free from the gun and violence, action must not stop at arresting stone-pelters or banning militant outfits. The bulldozer must roll towards the plush bungalows, luxury hotels, and business empires built on Pakistan’s blood money and fraudulent bank loans. Exposing and dismantling this economic-terror nexus is the only way to restore peace and dignity to the Valley.