Sky-high inflation has devastated the shopkeepers of Karachi, making this Eid season the worst season in the history of the country. Traders say that only 20 billion rupees worth of shopping was done in the city during Eid, which is less than the shopping done during the corona lockdown in previous years. Last year, 25 to 30 billion rupees were purchased during Eid.
Shopkeepers could barely sell even half of the stock they had collected for Eid, leaving the city’s markets deprived of the traditional Eid bustle. Atiq Mir, Chairman of All Karachi Trade Union, described the Eid season as disappointing for businessmen, saying that 80 percent of Eid purchases have been affected due to the high inflation rate.
The traders blame the government for not taking appropriate measures to control inflation, which has skyrocketed in recent months, making it impossible for people to buy even the basic necessities of life, let alone luxury items for Eid celebrations.
The shopkeepers are concerned that this unprecedented slump in business may lead to the closure of many small businesses and further deteriorate the country’s already weak economy.
