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Print Print edition: 2011-07-08

Panic grips Karachi markets

Published Updated

Markets in different parts of the city started closing much earlier than the usual closing timings on Thursday evening because of violence, which left citizens and traders panicked. Traders said the huge death toll in the metropolis made it one of the deadliest days in the city's history, rising to around 60 in three days.
Trade and business activities remained just about 20 percent in the summer peak season, they said. Talking to Business Recorder, Chairman of All Karachi Tajir Ittehad Muhammad Atiq Mir, expressed frustration, saying "Karachi is no more a city of trade and business" because of the continued violence and targeted killings.
He said traders, who could afford, were planning to shift their businesses to other cities of the Punjab province to protect their investments. He said the power loadshedding had also downsized the trade opportunities in the city. Atiq Mir said about 80 percent of market labourers could not reach to their jobs for lack of transportation and tension in their respective localities. He condemned gunfire at the public transports, and slammed the government for failing to take action against the killers.

Copyright Business Recorder, 2011

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