Fear forces closure of bank branches

Published October 20, 2007

KARACHI, Oct 19: As Karachiites bury their loved ones lost in the carnage a day earlier, Friday bore a somber look and people opted to remain inside their houses, markets were kept closed, most of bank branches were locked and public transport was off the road.

Commercial activity remained at a standstill on Friday as people mourned the Thursday’s carnage. There was uncertainty and fear among residents of the city, and people could not reach their destinations as public transport was not available.

Hundreds of people were found waiting for public transport in different parts of the city to reach their offices.

When contacted, bankers said only 20 to 30 per cent people could reach their workplaces, and most of the bank branches remained closed.

“I visited many areas of the city in the daytime and found most of the bank branches closed, or there were a few people who were working inside while shutters were down,” said Kafil Burni, a known banker at the Muslim Commercial Bank.

When contacted, a State Bank spokesman replied that the bank was open, but the presence could be thin mainly because of non-availability of transport.

Head offices of all banks remained open, but working at most of the bank branches was affected.

A brokerage house research head said he did not see any bank branch open when he travelled from Shah Faisal Colony to I.I. Chundrigar Road.

A banker said he did not go out because of fear.

“I was expecting a serious reaction due to loss of life and victimisation of a particular political party,” he said.

Bankers said due to market closures, bank transactions were extremely low while people could not pay their utility bills.

The horror of the explosion was felt all around the city, and the fear that something may happen anytime haunted citizens which did not allow commercial activity in most of part of the city.

Most of the petrol stations remained closed which compelled many transporters and private vehicle owners to remain off the road.

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