Punjab has incurred property losses of up to Rs 7,000 crore on account of the violence by followers of the Dera Sachh Khand sect, according to conservative estimates arrived at by the Associated Chambers of Commerce and Industry of India (Assocham).
"Social tension in Punjab has caused a loss of Rs 6,000-Rs 7,000 crore of public property and pushed behind its investment prospects to a significant extent," Assocham said in a statement on Tuesday.
Punjab has been wracked by widespread violence by followers of the Dera Sachh Khand sect protesting against the attack on religious leaders in a gurdwara in Vienna on Sunday.
Jalandhar, Ludhiana, Hoshiarpur and Phagwara towns of Punjab continued to be under curfew for a second day Tuesday. But the curfew was being relaxed for two to four hours.
In this connection, Assocham secretary general DS Rawat appealed to the state administration "to immediately restore proper law and order in the state, especially in Jalandhar, Ludhiana, Phagwara and Ambala".
"Any delay in curbing the social tension might cause a great harm to the economy of Punjab," Assocham said.