KARACHI: Trading and industrial activities remained paralysed on Friday due to a mourning day observed by the Muttahida Quami Movement (MQM) over the killing of its four workers on Thursday.

Although petrol stations started opening by 5pm, most of markets and commercial centres failed to operate as there were few buyers and most of the shops remained closed. The markets wore a deserted look on Thursday evening as the MQM announced its plan for a protest.

According to Atiq Mir, chairman, All-Karachi Tajir Ittehad, overall loss stood at Rs15-20 billion owing to closure of markets and commercial centres from Thursday evening.

The closure of commercial activities usually causes trade loss of Rs3bn to 4bn, while another loss of Rs4 to 5bn is suffered on account of closure of customs clearance and shipping activities. Yet another loss of Rs7 to Rs8bn is suffered owing to loss production activities in industrial areas as well as exports.

The worst-hit were three million daily wagers in the city. The salaried people could not draw their salaries, and they have to wait till Monday for the opening of banks, he said.

Atiq Mir said there was a bit delay in the announcement regarding resumption of trading activities. As a result, many traders opted to stay at homes due to limited business hours.

Site Association of Industry President Younus M. Bashir estimated Rs4 to 5bn production loss in Site alone due to closure of more than 3,500 units where 500,000 permanent, contractual and daily wagers are employed.

FB Area Association of Trade and Industry (FBATI) chairman Sheikh Mohammad Tehseen said some 10-15pc of small to medium-sized units remained completely closed while units which remained open recorded only 25-30pc production activities due to thin attendance.

Former President of North Karachi Association of Trade and Industry Faraz Mirza claimed complete production halt in over 2,000 units in North Karachi.

Korangi Association of Trade and Industry’s former president Zubair Chahya claimed that majority of the units, out of 4,000, remained inoperative.