KARACHI, Sept 24: Sales of Eid-related items remained laggard during the first 10 days of Ramazan as compared to the same period last holy month amid prevailing political uncertainty and high inflation which has sharply curtailed buying power of the consumers.

In absence of any official yardstick to check the monthly or daily sales of Eid-related items, many market players estimated 50 per cent drop in sales during the first 10 days of the holy month over the same period last Ramazan.

After having felt the pinch of dearness during the last few months consumers have restricted themselves to buying only essential items as compared to three years back when they were used to start shopping from the begging of the holy month to celebrate the Eidul Fitr in befitting manner.

They attributed the sluggish sales to empty pockets of the consumers owing to last days of the month and hot weather in day times. However sales would pick up momentum after October 1, they hoped.

Markets have started opening till 2.00am, but rush in the markets will largely depend on political and law and order situation.Chairman Alliance of Market Associations (AMA) Atiq Mir said persisting political chaos and deteriorating law and order situation had frightened consumers who did not come to markets with free mind. “Rising food inflation has also squeezed the purchasing power of the consumers forcing them to observe extreme austerity on the occasion of Eidul Fitr,” he added.

Food inflation in Pakistan has risen to 8.5 per cent in July 2007 as compared to 7.4 per cent in July 2006.

Mr Atiq said that markets would pick up rush in the last 10 days which had been happening for the last two years. Otherwise three years back, he added, markets were seen hustle and bustle of consumers from the very first day

Chairman Tariq Road Welfare Traders Association Siddiq Memon said the rising political instability coupled with looming threat of any untoward incidents had been the prime factor behind the thin presence of the buyers in the markets.

During the last Ramazan about 250,000-300,000 persons visited 40 shopping centres and 45 bazaars daily, but now the number of visitors had dropped to 100,000-150,000, he gave a wild estimate.

“The government does not realise that the political frustration has a negative impact on the business activities. Even in the fist 10 days of Ramazan no security arrangements were made by the government to avoid any eventuality for the safety of the visitors at Tariq Road, Siddiq said.

He said prices of children garments, gents clothes and shoes (China, Thailand and Indonesia) had already risen as some 36 containers were held up at the port since the Customs officials were demanding Rs1 million per container as the duty as against the actual duty of Rs300,000.

President Saddar Co-operative Market Society Mohammad Feroz observed that the political unrest had been hitting sales as buyers were unwilling to visit markets owing to security risks which resulted into 50 per cent plunge in sales in the first 10 days of Ramazan.

On the contrary, Senior Vice President Saddar Alliance of Market Association Abdul Samad Khan said that business had been normal like last year as people were purchasing as per their buying capacity. However, he ruled out any negative impact of current political unrest on the sales. He reckoned that people buying power had shrunk because of rising food prices.