KARACHI, Feb 19: Trading in retail and wholesale commodity markets remained dull on Tuesday, a day after polls, as the nation heaved a sigh of relief on peaceful elections that were believed to be free, fair and transparent.
The market leaders put the actual trading between 25-50 per cent of the normal volume on the first day after general elections. They said it was owing to thin presence of buyers, who had already made precautionary buying of essential items at least for a week ahead of Feb 18.
A number of consumers had purchased items, especially flour varieties and other essentials ahead of elections under fear of violence during and after the elections coupled with apprehensions about market closures. Traders have also set their eyes on the final election results besides, looking forward to the formation of the government.
General Secretary Karachi Retail Grocers Group (KRGG) Mohammad Farid Qureishi said that only 25 per cent business was recorded on Tuesday as majority of retail commodity markets remained very quiet.
He said people had stored flour and other items in larger quantities ahead of elections and they will take some time to return to the markets.
Chairman Karachi Wholesale Grocers Association (KWGA) Anis Majeed said only 50 per cent trading was registered on Tuesday in wholesale markets.
“The real trading activity will pick up from the next week when the stocks, piled up by consumers, will exhaust. This week will witness slow buying and selling of commodities,” he said. Convener Tajir Action Committee Imran Saeed Baghpati said that he had visited many markets where there were hardly 10-12 per cent buyers and sales remained highly depressed.
The first day after election portrayed more like a holiday rather than a working day, he said adding many people had watched the election results till late night on electronic media so they spent their time in taking resting on Tuesday, he said.
He said the people of Karachi had not shown any feeling about the political change at the national level as they were more concerned about the fate of elections in Karachi, which, of course, remained as per their expectations, Imran said adding that the people would come to the markets in the next two to three days.
On the contrary, president Tariq Road Traders Action Committee (TRTAC) Siddiq Memon tried to portray a different situation by saying that buying remained 60 per cent in garments and other items on Tuesday as compared to 10-20 per cent before the general elections. As soon as the political issues are settled the consumers will start arriving in the markets in larger numbers, he added.
President Falahi Anjuman Wholesale Vegetable Market, Super Highway, Haji Shahjehan said that about 50 per cent trading was witnessed on Tuesday as the vegetable retailers had already lifted stocks one or two days ahead of polls and they relied on their previous stocks. Even the rush of regular buyers remained very thin as they had also purchased vegetables before Feb 18.
There was also less arrival of trucks ranging 250 to 300 as compared to normal 800 trucks daily, he said hoping that buyers will return in a day or two.
