July 12, 2007	Thursday	Jamadi-us-Sani 26, 1428

KARACHI, July 11: Traders of various markets offered conflicting views on buyers’ turnout and sales volume on Wednesday after the killing of Maulana Abdul Rasheed Ghazi in an army operation at Lal Masjid on Tuesday.

Some said business activities in the markets remained below the normal owing to sentimental impact among buyers who feared violent reaction or retaliation from the religious parties or other untoward incidents, while others said business remained as usual owing to normal presence of buyers.

However, they said majority of the market traders were seen exchanging views with each other regarding the Tuesday’s bloodshed in the capital and its future outcome on the business environment.

In the absence of any yardstick to check the daily sales volume and non-availability of daily sales data with the government, it is hard to present the real picture of sales. Traders usually offer their comments based on a wild guess or market observations.

Chairman Karachi Wholesale Grocers Association (KWGA) Anis Majeed said the wholesale market of pulses, wheat and rice witnessed paucity of buyers and even those who arrived in the market lacked normal trading interest.

Daily trading had declined by 40 per cent in various commodities in the Jodia Bazaar, hub of billion of rupees wholesale trading, he said. He however could not give the actual quantum of daily trading in rupees.

Sentiments of both buyers as well as sellers will remain weak for some more days and return to normal if political and law and order situation stay under control.

President Alliance of Market Association (AMA) Atiq Mir said that the presence of buyers in the markets remained dull on Wednesday in fear of any backlash from the religious parties.

“It is hard to predict future market scenario as much depends on the political situation,” he added.

He said that the government should now look into the negative impact on the business conditions before taking any future action relating to madressah and mosques. Senior Vice-President Saddar Alliance of Market Association Abdul Samad Khan said that Zainab Market, Rex Shopping Centre, International Shopping Centre, Madina Shopping Centre, City Shopping Centre, Victoria Shopping Centre and Panorama Shopping Centre witnessed 50 per cent decline in buyers on Wednesday.

Even arrival of foreigners in these markets also remained very thin as compared to normal days, he added. “The government should seriously take solid measures to improve the business environment which has been deteriorating since March this year”.

On the contrary, President Tariq Road Traders Action Committee Siddiq Memon said that the killing of deputy cleric of Lal Masjid had not caused any negative impact on business and trading on Wednesday.

Vice-President Saddar Businessmen Association Mohammad Farooq Khatuda said that the Saddar and Bohri bazaars had recorded normal shopping activity as buyers’ arrival was usual like other week days. “I cannot predict future market sentiments as political picture is still not clear,” he added.

However, a footwear dealer in Bohri Bazar who asked not to be named said that sales had dropped by 20-30 per cent on Wednesday due to low turnout of buyers.