Coronavirus, economic uncertainty dampens Eid sales

• Atiq Mir said that last year the turnover on Eid was Rs35 billion but this time the turnover on Eid was less than Rs10 billion, showing a 70pc drop in business.

The ongoing uncertainty surrounding coronavirus pandemic dampen economic activities during this Eid, after less than Rs10 billion worth of goods were traded on the occasion of Eid this year, informed Chairman All Karachi Traders Union Atiq Mir.

As per a statement issued by the All Karachi Traders Union, buyers entering the markets after the easing of the lockdown by the government couldn’t provide much relief to businesses struggling to survive in the age of lockdowns.

Mir said that between May 11 and May 23, there was only a 10-day business period, with 80pc of Eid purchases revolved around children's clothing, shoes, purses, and toys.

Atiq Mir said that last year the turnover on Eid was Rs35 billion but this time the turnover on Eid was less than Rs10 billion, showing a 70pc drop in business.

It may be recalled that Prime Minister Imran Khan had announced a nationwide easing of lockdowns from May 9, following which the Sindh government also announced to relax lockdowns from May 11 to allow the business community to open business four days a week at specific times. The Supreme Court later issued orders to open the business for the whole week.