Recent inflation and growing unemployment have broken the backbone of the low incoming people as the prices of basic food commodities have surged to an extent that the people have no more choice but to slash down several items during Eid shopping.
Every year, the country has to face inflation, but this year, extortion and terrorism have just rotten the sprit of shopping in the city of spiritual saints (Madinah-tul-Aulia) Multan, Hakim Rana Abdul Sattar, a resident of Waqas town said.
After a survey of various markets in the ancient city, it has learnt that there was no traditional hustle and bustle as shoppers kept themselves away from Eid shopping. Eid shopping usually starts with the second Ashra of the holy month of Ramazan, but this time, an ongoing wave of skyrocketing prices have made it impossible for a common man to visit markets for purchase of clothes, footwear and other goods.
He said that thousands of families have been affected by foods and farmers are worried about the future of their cotton, which had fallen to Rs 7,000 per maund from Rs 17000 while on the other hand, escalating inflation has definitely dented the purchasing power of common man.
During Ramazan, it was observed that middle class and low salaried employees are not having that much 'lavish' food in their Iftars, like they used to have in previous years. This is all because of the price hike mainly caused by inflation. A dull and slow shopping trend is being witnessed at major markets like Chowk Bazar, Hussain Agahi, Chungi No 14, Gardezi Market,Sadar Bazar, despite the fact that just one day is left in Ramadan.
Shopkeepers have been seen sitting idle, waiting for the prospective buyers. Several shoppers said that due to high prices, many things were beyond their purchasing power and they were compelled to just window shop. "Shoes that were once sold at Rs 600 to 800 have now reached more than Rs 1,500 to 1,800. Sometimes, a decent pair costs more than Rs 2,000, which is too much," said a housewife.
The rates of children's clothing have also reached sky high, ranging from Rs 2,500 to Rs 6,000. Shopkeepers said most customers just come and look around, ask for prices and then leave. The traditional embroidered dresses for women, elaborate gaudy frocks for girls, bangles and henna are a must buy for the festive occasion of Eid along with Kurta Shalwar for men. "Middle-income people, who were shopping from posh markets till last year, are now reverting to economical markets for bargain," said Siddique Memon, chairman of Traders Action Committee Multan.
Saddar Alliance of Market Association spokesman said, "Saddar is almost 30 percent cheaper than posh markets in the city and that is why more people are visiting here." "Eid crowd in Saddar is almost 10 percent lower against 30 percent at the city level," he added. For most shopkeepers, business is usual as it remains during normal days. Many markets in other localities were found empty and only few people were seen roaming around shops till today.
The Eid budget varies from family to family depending on their financial and social status, but on an average, people spend at least Rs 1,500 to Rs 2,500 per person on shopping that consists of edibles, footwear, clothes and household items. Well to do families spend thousands of rupees while the rich community buys their wardrobe from abroad since they feel insulted to look for items in local markets on account of their social status. Economic experts estimate that the recent ongoing terrorism in the commercial hub of the country has seriously damaged the country's economy, pushing it back to years, and billions of rupees would be required for the reconstruction stagnant economy.