Pre-poll panic buying downs sale of essential commodities by 50 percent

The pre-poll panic buying kept the sale of essential commodities down by 50 percent during the whole week in the wholesale and retail markets, however traders are optimistic that trade activities will gain momentum in the coming week.
Traders did huge buying prior to general election in face of apprehensions of possible breakdown of law and order following the elections, which has restricted the trade activities to only 50 percent in the grain market and Jodia Bazaar during present week, said a trader on Saturday. However, he is satisfied with the post-poll political and law and order situation in the country and says that in the next week trade activities in the market will touch its peak.
Anis Majid, chairman Karachi wholesale grocers association (KWGA) told Business Recorder that on Saturday trade activities remained at 80 per cent with the signs of market impetus. "Market is getting momentum and hopefully in the next week trade activities will reach in its culmination," he said.
Fareed Qureshi, secretary of Karachi grocers retailers group (KGRG) said that retail market posted low sales of essential products because of huge buying before February 18 polls. Atiq Mir, chairman of alliance of market association Karachi said that the recent general elections had proved wrong the traders' apprehensions of possible law and order situation.
Trade activities are getting impetus gradually, he said and added that recent polls had successfully ended the political fight at least for a time being, which would help sustain the business growth.
Sales of clothes, shoes, furniture, spots goods, electronic appliances and other stuffs including television sets, DVDs, VCDs, etc, was getting momentum with every passing day, he added. Markets, according to him had become more sensitised to the law and order situation and political uncertainties and the energy crisis bringing the trade activities down phenomenally in recent years.
A trader at the Gul Plaza, Muhammad Siddique, said that pre-polls sale was very thin in the market and only 20 per cent trade activities too place, however, in the post-poll scenario consumers had turned up to buying by 50 per cent.