KARACHI, Aug 4 Many retail shops located inside the residential areas are fast running out of stocks since consumers had turned up in huge numbers due to closure of big outlets in main markets since Tuesday.

The main wholesale market at Jodia Bazaar and all the big grocery retail and wholesale shops located on the main roads and in the main markets remained closed for the second day on Wednesday. Even shopping centres/malls and main commercial centres were also closed.

Shopkeepers inside the residential areas said that small shops usually hold two to three days stocks of pulses, ghee and cooking oil, flour bags, rice, sugar, powdered and tetra milk, and spices etc. After abnormal increase in number of consumers, the stock situation is getting alarming. If the main commodity markets did not open on Thursday the consumers may not find the grocery items easily in small shops.

They said some small shops inside the residential areas had received supplies of goods like flour bags, bread, fresh milk, poultry etc but surging demand in view of lingering tension in the city is fast depleting the available stocks as many buyers have gone wild to make stand- by purchases. They said the shops in the main markets did not get the supply as most of them were closed.

They said that in case shops re-open on Thursday consumers will turn up in very large numbers to make bulk purchases for daily use and for Ramazan in view of the uncertain Karachi situation.

Chairman Karachi Wholesale Grocers Association (KWGA), Anis Majeed, estimated a trading loss of Rs3 to 4 million per day at Jodia Bazaar, the main hub of wholesale commodity markets for items like sugar, rice, flour, wheat, tea, pulses etc. In the last two days of closure the trading loss had swelled to Rs6 to 8 million.

He said wholesalers in Jodia Bazaar mainly have stocks of eight to 10 days and there will be no shortage of any commodity but problems in the arrival of goods from the flood-affected areas may cause some shortage. He added there was slowdown in supplies of essential items from Punjab.

Mr Anis said that the wholesale market must re-open on Thursday otherwise consumers will have to run from pillar to post as shops located inside the residential areas are already facing stocks problems.

Chairman All Karachi Tajir Itehad (AKTI) Atiq Mir said he rang up the MQM headquarter at Azizabad and informed them about the market closures and the problems being faced by the consumers and traders. A higher up of the MQM said that instructions had been issued to sector and unit in-charges to ensure opening of shops on Thursday.

He said after assurance from the MQM central command, the AKTI has announced opening of shops from Thursday. The MQM official also asked it to provide details in case some elements try to create problems in opening of shops.

Mr Atiq said that the two-day loss in terms of productivity, sales, import, export, government's revenue, supplies etc is estimated at Rs20 billion. He said that about 3.5 million people could not draw their salaries due to closure of banks and their ATMs since Tuesday. An estimated two million daily wagers fearing starvation are hoping for complete harmony in the city.

General Secretary Karachi Retail Grocers Group (KRGG), Farid Qureishi said big retailers in main markets usually hold stocks of commodities for at least a week and while small retailers have two to three days' stocks in hands.