Traders fear sharp decline in Eid sales after bomb blast

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Traders panicked after a fresh wave of violence in the city on Friday, fearing a sharp decline in Eid sales, which they earlier reckoned would post best sales in the last days of Ramazan.

"Two violent attacks in the city within 24 hours have shaken the traders' confidence. Traders previously estimated that their sales will cross Rs 50 billion by the end of Ramazan," traders said.

They said the city remained peaceful during Ramazan this year and a sharp decline was witnessed in street crimes also, as police and other security agencies played a key role in maintaining law and order. "In the past 28 days, traders earned Rs 40 billion which is higher by over Rs 15 billion higher than the sales of the past year in Ramazan, which remained below Rs 25 billion because of unabated violence in Karachi," Chairman of All Karachi Tajir Ittehad Atiq Mir told Business Recorder.

Citing peace in the city, he said traders were satisfied with the Eid shopping spree. However, the two incidents of violence, he said, had badly affected the business. He reminded that vice-president of ANP Sindh Bashir Jan was attacked in the outskirts of the city, which was followed by a roadside blast on Friday, leaving nearly a dozen injured. "Both attacks came just two day ahead of the Eid. These days constitute the most important sales period of the entire season," he said.

Expressing the hope that peaceful atmosphere in the city would continue, he said that it was vital for boosting trade prospects. He said that the government's efforts were visible in this regard, adding that peace was facilitating buyers. Atiq Mir said that the pace of Eid shoppers was gaining momentum which "is a good sign", adding that peace would help trade grow rapidly.

Courtesy: Business Recorder


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