Karachi: The 2023 Eid sale season of the traders was very disappointing, the worst recession in the history of the country in the markets made the traders aware, the purchasing power of the buyers was severely affected by the nerve-wracking inflation, the expected purchases could not be made despite the hustle and bustle in the markets, the last Compared to last year, sales were very disappointing, with barely 40 percent of people able to make Eid purchases.
The Eid sale season has become the worst ongoing political crisis and nerve-wracking inflation in the country. According to Atiq Mir, chairman of All Karachi Traders’ Union, business in ruins, limited income and continuously increasing inflation and unsustainable inflation are the people’s Eid joys. Also swallowed.
He said that this year’s sales are estimated to be less than 20 billion rupees. Traders have termed 2023 as the worst year in the last 75 years in terms of business, which has no precedent in the past. More than half of the goods stocked on Eid. Unable to sell, special and well-known commercial areas for Eid shopping are Clifton, Sadar, Tariq Road, Hydari, Gulshan-i-Iqbal, Nazimabad, Malir, Landhi, Gulistan-e-Johar, Liaquatabad, Bahadurabad, Jubilee, Jamia Cloth, Old City and Markets in other regions await buyers.
Atiq Mir said that due to reduced capacity, the interest of buyers was more in cheap goods, in the last decade of Ramadan, not so much shopping could be done as in the first decade of last year, the business of commercial hub Karachi is the best of the year. The sale season has stalled, traders who are afraid of an unexpected political and economic crisis in the country have been reluctant to accumulate more stocks for fear of freezing their assets, the uncertainty has also dampened the spirits of investors.
He said that the rising prices of the basic necessities of life have shocked the poor and middle class, it is difficult for the businessmen to meet their business and household expenses and the payments of the borrowed goods have become red. Low and dashed their hopes, most buyers, contrary to wishes, settled for only one suit, as the stocks of imported goods decreased in the markets, sales of local products were brisk.
Atiq Mir expressed great regret and sadness and said that as usual this year too, artificial inflation mafia and opportunists have broken the back of the poor and middle class by raising the prices of food items to the sky and for them the basic of life. Access to facilities was made most difficult, the poor and middle class were stuck in kitchen problems and were deprived of celebrating the joys of religious festivals like Eid.
He also severely criticized the institutions responsible for law and order in the city and said that in Ramadan, police, robbers and robbers were seen standing in the same line. took full advantage of the non-availability of parking around the city and cheated crores of rupees on a daily basis, the army of local and non-local donkeys continued to rampage in the city of Zafar Moj, for which no strategy was adopted at the official level. In the markets, the criminal women also cleaned their hands of goods, cash, mobile phones and purses.
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