KARACHI, Aug 18: Small traders and businessmen are not, too, optimistic about the economic stability in the short run after the exit of President Pervez Musharraf from the political scene on Monday.

They said that Musharraf was not the root cause for all economic ills as there were a series of political issues that need to be addressed for bringing economic harmony in the country.

They thought that political deadlock had come to an end after president’s exit thus leaving a host of challenges for the coalition government to take some radical steps for controlling steep rise in prices of essential items and creating a peaceful business environment encouraging businessmen to re start investing in their country.

They urged the government to select a highly-educated and a seasoned politician for the vacant top slot of the president having an understanding of domestic and world economic issues, besides having an understanding of consumers’ growing plight.

Karachi, being a stronghold of the Muttahida Qaumi Movement (MQM), showed no instant sign of enthusiasm except for some celebrations witnessed in some pockets dominated by the Pakistan Peoples Party (PPP).

Chairman Karachi Wholesalers Grocers Association (KWGA) Anis Majeed was of the view that the resignation of the president might have ended the political uncertainty but the traders were literally not hoping for a sound economic stability in near future as the issue of restoration of judges still needs to be settled immediately among the coalition partners.”

He said that the government had to improve the political image in the world, which was adversely affected in the last four months. “Time has now come that the coalition partners should put their heads down and work out a strategy for the economic betterment of the country,” he added.

Anis said that consumers are eagerly waiting for a cut in prices of food and oil. It is only possible when the government seriously chalk out a plan to improve the productivity of local crops.

Chairman Alliance of Market Association (AMA) Atiq Mir said that the trading community was not very much ecstatic about the future of business activities despite the exit of President Musharraf.

Giving reason of traders’ lukewarm response, he said traders had already suffered much during the last eight years but unfortunately the new government was still following the old policies. He said that budget and trade policy had failed to bring any relief to the business community.

He added that the business community and even the general public were now looking forward for political and economic uplift. General Secretary Karachi Retail Grocers Group (KRGG) Farid Qurieshi said that small traders feel after the exit of Musharraf the coalition government now got a clear chance to prove their mettle by dealing the most pressing issue of rising food inflation and restoring business confidence.

President Jodia Bazar Traders Association (JBTA) Jaffer Kudia said that the traders felt that the confusion and chaos in the markets had now ended thus creating an opportunity for Asif Zardari and Nawaz Sharif to decide the fate of the country’s future and the nation’s prosperity, if they so please.

He said that the consumers were not likely to get some relief as immediate fall in prices of essential goods appears to be a remote possibility in view of international trend in prices of food items.