KARACHI, Nov 3: The declaration of state of emergency on Satruday, which generally shocked the people, did not affect shopping in trade plazas and commercial markets where buying and selling activities continued at a normal pace.

There were also many among the buyers and the shopkeepers, who were either unaware of the development or got the news very late. The suspension of the broadcast of private TV channels was perhaps the main reason for keeping the general public and shopkeepers in dark about the emerging political situation in the country in the shape of emergency.

Because of the on-going marriage season there was normal rush of buyers in the markets and many people preferred to stay there to take home the required items at any cost. It was noticed that the buyers and the shopkeepers did not show any sign of panic to rush back to their homes as soon as possible in the wake of the dangerous political development.

“Things were normal even by 8.30: pm, which indicated that the buyers and shopkeepers took the news of emergency in a very light mood,” President Tariq Road Traders Association, Siddiq Memon said adding that the traders had expected such kind of move by the government.

“I do not see any major impact on the market in terms of any negative sales under the emergency situation,” he said adding that working conditions were likely to improve as state of emergency would help to eliminate the crisis like political situation and mounting tensions in Northern Areas as well as instances of bomb blasts for a temporary period.

President Tariq Road Traders Welfare Association Haji Hamesh Gul said that the consumers and even traders had not shown any sign of frustration. “There is no need to worry. Trading activities will continue at normal pace,” he added.

President Alliance of Market Association (AMA), Atiq Mir said that the traders were already perturbed over unstable political situation and would now feel more insecure after the imposition of emergency.

He said if the opposition parties violently resist the emergency then the country will see the worst economic meltdown.

Atiq said that the local people would refrain from investing during the unstable period. Even consumers’ arrival in the market will slow down as they will be scared of any untoward incidents, he added.

President Karachi Chamber of Commerce and Industry (KCCI) Shamim Ahmed Shamsi said that the business community was likely to remain in a state of shock for at least next one week and working business environment might remain shattered.

Many foreign buyers and visitors might postpone or cancel their visit to Pakistan soon after the news is flashed in foreign countries. Many foreign buyers might stop opening L/Cs in their countries for importing Pakistani goods. Exports would also definitely suffer in the changed circumstances causing instability.

He said by keeping the federal ministries, assemblies and the provincial set up intact the government was trying to show to the world that Pakistan was safe and sound both on economic and political fronts.

Chairman Site Association of Industry Imran Shaukat said the business community was in a shock. He said the businessmen were expecting holding of general elections and not emergency.

Chairman F.B. Area Association of Trade and Industry (FBATI) Masroor Ahmed Alvi said that there would be no problem in running business under state of emergency. “Foreign buyers and visitors are more frightened of bad law and order and bomb blasts rather than emergency,” he said adding that much depends on how these situations change under emergency.

Senior vice-president Sindh Women Chamber of Commerce and Industry (SWCCI) Rubeena Rasheed said there might be some impact of emergency for two to three days but business conditions would remain normal.

She said that keeping the assemblies intact meant that the stability was likely to return in the country and it was expected that the government would give more incentives and facilities so that business environment could run smoothly.

However, Chairman North Karachi Association of Trade and Industry (NKATI), Faraz Mirza said that emergency situation in the country would give a negative signal to the foreign buyers and investors and even visitors.