KARACHI, Feb 5: Consumers have shown no signs of panic buying ahead of Feb 18 elections, although they had an experience of paying more than the original price of edible items during Dec 27-30 violence owing to scarcity of items.

Furniture makers say advance booking of furniture for marriages scheduled after elections is just five per cent while spot buying of furniture for on-going slow marriage season is only two per cent.

Gold dealers have offered a mixed view. Some say people are placing orders for marriage ceremonies to be held in the last week of the current month and first week of March while investors are making gold bar purchases for investment.

Other dealers believe that orders for jewellery sets for pre and post election marriages have been slow.

Chairman, Karachi Wholesalers and Grocers Association (KWGA), Anis Majeed, said wholesalers are now very careful and frightened in maintaining sizable stocks in their godowns after the Dec 27-30 incidents in which pulses, sugar, dry dates and other stocks worth millions lying in godowns near Lyari were looted by angry protestors.

“Virtually there is no panic buying from retailers as they see no big demand from consumers,” he said.

He said even placement of orders for imports by traders have also been slow as wholesalers have now made a mindset that ugly incidents could occur before elections.

General Secretary of Karachi Retailers and Grocers Group (KRGG), Mohammad Farid Qureishi, said currently consumers are making their monthly purchases rather than making advance buying ahead of general elections.

But there is a possibility that some buyers may resort to panic buying after Feb 10.

He, however, stated that retailers are not piling up stocks as there is no extraordinary demand from consumers.

Chairman, All-Pakistan Gem Merchants and Jewellers Association (APGMJA), Mazhar Ali, said that the demand for gold bars and jewellery sets had picked up.

He said investors are now purchasing gold bars while families, preparing for weddings of their daughters, are placing orders for jewellery sets.

“Sale of bars and jewellery sets has surged by 20 per cent during the last one week,” he added.

President, Karachi Sarafa and Jewellers Group (KSJG), Haji Haroon Rasheed Chand, said that the demand of jewellery sets for pre-and-post election marriage ceremonies have not picked up very sharply.

He said many families have adopted a wait and see attitude to hold marriage functions till Feb 18 or after the election. Besides, marriage season has been going slow ahead of Chehlum.

He said only 20 to 22 per cent business is going on after the killing of Benazir Bhutto. He added that only investors are active in lifting of gold bars.