Sluggish trade as markets open after Eid holidays

August 12, 2013 Off By Web Desk

Karachi: Slow trade was witnessed on Monday when all major markets of Karachi opened after three days of Eid holidays.

Local markets remained closed on Friday, Saturday and Sunday. Some markets of the city has also closed on Thursday one day before the Eid; however, the bazaars selling cloths, garments, cosmetics and other Eid-related items had a roaring business on the Eid moon night.

On Monday the presence of customers was thin and many shopkeepers were seen chatting with other traders and reading newspapers. Overall, the traders were satisfied that they had very good Eid season. They said overall law and order situation also remained satisfactory and saving some minor incidents and routine extortion demands no major incident took place during the Eid season.

All Pakistan Organisation of Small Traders and Cottage Industries (APOST&CI) Karachi chapter president Mehmood Hamid said due to rains before Eid market activities remained affected in many areas of city. However, the Chand Raat business remained good. He said overall security situation remained better; however, in some areas a new trend of kidnapping children and relatives of traders for ransom was seen which is very worrisome. He said the police continued to play the role of silent spectator.

Regarding the trade activities after re-opening of markets he said today was the ‘Eid Millan day’ and traders would pass time exchanging Eid greetings; however, the routine trade activities would be resumed in a couple of days. He hoped that better policing and cooperation of major political parties in maintaining peace in Karachi would certainly help boosting business activities in Karachi, the lifeline of Pakistan economy.