Srinagar, March 4 (IANS): Traders in Jammu and Kashmir shut their businesses on Wednesday to protest against alleged delay in release of rehabilitation and compensation for losses they suffered in the September 2014 floods.

A large number of traders assembled at city centre Lal Chowk and demonstrated demanding immediate release of compensation and rehabilitation package.

The call for Wednesday's demonstration was given by Kashmir Traders and Manufacturers Federation (KTMF) and was supported by other trade bodies.

"Six months have passed but we (traders) have not received any help from either the BJP-led central government or from the state administration," KTMF president Muhammad Yaseen Khan told IANS here.

Khan said Kashmiri traders wanted the central and the state governments to listen to their grievances. "We have waited too long and have been peaceful so far. If our demands are not met, we may be forced to look for other options."

Besides, the traders are demanding exemption on tax and soft loans for at least 10 years to recover from the losses.

"It is a humanitarian issue, our revival of business is impossible without any assistance from the government. But so far we have received only hollow assurances and nothing else," a trader said.

The flood-affected traders community has pegged losses it suffered at around Rs.30,000 crore. The flood affected over 65,000 business establishments, they said.

Separatist leaders Yasin Malik, Javaid Mir and Muhammad Ashraf Sehrai also participated in the demonstration.