KARACHI, March 16 The industrialists are pinning their hopes on the independent judiciary for economic recovery, while majority of the traders felt improvement in consumers` arrival in the markets on Monday. Others said sales remained below their expectations.

Despite the fact that Karachi had not been mobilised in favour of lawyers` struggle for the restoration of judges, the Karachiites on Monday welcomed the reinstatement of Chief Justice Iftikhar Chaudhary and other judges. The reason could be that it had brought down the boiling political temperature that depressed sales and business activities over the last one week.

Chief Convener Supreme Council of Traders Imran Saeed Baghpati said that many markets had recorded large number of buyers who had earlier been reluctant in view of uncertain political conditions amid fears of terrorist attacks.

He said he had witnessed unusual rush of buyers at the domestic appliances and cloth markets as people were seen shopping in relaxed mood compared to previous days when fear had gripped them and markets faced drop in sales.

Karachi Wholesale Grocers Association (KWGA) Chairman Anis Majeed said that definitely buying and selling activities, which had dropped by 20 per cent few days back, showed improvement on Monday.

Mohammad Rizwan, owner of Rizwan Electronics at Abdullah Haroon Road, said the working business conditions had improved on Monday as people thronged the markets.

However, Alliance of Market Association (AMA) Chairman Atiq Mir said the markets were still lacking normal attendance of customers.

He was of the view that many people still smell a sense of despair fearing the government may back out from its promise of restoring the chief justice as it did in the past.

“The rush in markets will pick up after March 21 when the chief justice and his team will take over their offices,” he said, adding before that sale and purchase activities will remain subdued.

“Irrespective of thin trading activities, a strong hope has enlivened among the consumers and traders for peaceful future business,” Atiq said.

Karachi Retail Grocers Group (KRGG) General Secretary Farid Qureishi said he did not witness any visible improvement in consumers` number on Monday and it was just a routine slow-sale day.

Leaders of two trade bodies at Tariq Road area offered conflicting views about rush in the market. President Karachi Tajir Action Committee Siddiq Memon said that the hustle and bustle at Tariq Road had returned on Monday and sales had improved as compared to last six days.

In sharp contrast, President of Traders Welfare Association Tariq Road, Hamesh Gul, said there was literally no positive change in the area in terms of sales. He said almost same presence of buyers was witnessed as it used to be ahead of restoration of the chief justice.

INDUSTRIALISTS President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Sultan Ahmed Chawla, President Saarc Chamber of Commerce and Industry (SCCI) Tariq Sayeed, President Indo-Pak Chamber of Commerce and Industry (IPCCI) S. M. Munir and former FPCCI president Tanvir Ahmed Shaikh said that reinstatement of Iftikhar Chaudhry had resolved the longstanding issue and it was vital step towards national reconciliation.

In a statement, they said the country would enjoy peace and prosperity as a result of political stability and believed that the chief justice would endeavour his best to usher in an era of justice which would go a long way to solve the political turmoil and economic challenges being faced by the country.

They said the business community was of the view that had this decision been taken earlier it would definitely had improved the deteriorating law and order conditions which would have been more favourable for trade and commercial activities.

They emphasised that the political forces should now sit and work together and focus on the resolution of all other issues as well, to strengthen the democratic process and put the economy back on track to ensure a environment conducive to business and investment so that the masses could progress and prosper.

Korangi Association of Trade and Industry (KATI) Chairman Mian Zahid Hussain and Vice-Chairman Johar Ali Qandhari said that the restoration of judiciary would strengthen the country`s democracy and also bring economic prosperity.

They hoped that as the stalemate was over the economic activities would flourish and foreign investment would start flowing in.