Being almost in the middle of Ramazan and the countdown for Eidul Fitr has started, the city's markets should be buzzing with Eid shoppers, but only a thin presence of window-shoppers were seen and the festive mood was yet to be set in.
During a survey conducted by the Business Recorder team here on Saturday, most of the markets were selling summer items at discounted rates and were yet to display latest items, and no market was seen decorated for the occasion of Eid. In fact, all shops gave routine look and the shop owners showed no interest in decorating their shops, as they refuse to bear extra financial burden.
Many traders of various markets, including Naqi market, Township, Model Town Link Road, Liberty, Gulberg and Krishan Nagar, told Business Recorder that even after almost two weeks of Ramazan, they are still awaiting for the real buyers. They said people do come but the high prices of clothes, shoes and other fancy items scare them away. They admitted that the prices have surged manifold and have become out of reach of people.
"Appreciation of dollar and heavy duties on imported goods have increased the prices of shoes, clothes and other items, thus decreasing the buying power of the masses. City markets, which were decorated at the very onset of this sacred month, are yet awaiting the same glitter," they added.
It also was witnessed that most of the shops are offering the old stuff on discount up to 50 per cent to the consumers. "We are seeing the most sluggish business as compare to last three years. This year buyers are negligible as compared to last year and they are preferring to buy the stuff that the businessmen have put on sale instead of buying the expensive fresh material," said Mansoor Ahmad, a traders dealing in kids clothing on The Mall Road Lahore.
He also said due to appreciation of the dollar and other duties, prices had increased from 40 to 65 per cent. "One kid suit that was available at Rs 500 last year during the same days was now on sale for Rs 750. This increase in the price has marred our sales too. We are used to witness sale from Rs 10,000 to 20,000 per day during the first 15 days of Ramazan but today I had just sold one piece of clothing till afternoon," said another baby clothing dealer Muhammad Nazar.
A shoe seller, Amir Sheikh, said they had not put on display the new stuff as weather had made the buyer confused whether he should buy stuff for winter or summer. He also claimed due to appreciation of Chinese currency and dollar, imported shoes had become very expensive. He claimed that a large number of containers carrying imported shoes were lying at Karachi port and importers were hesitating to get them clear due to heavy duties as well as slow buying in the markets.
A number of shopkeepers also said earlier they used to get items on credit before Eid and clear the payments after sales, but this year investors not satisfied with the political and economic situation of the country and were asking the shopkeepers to pay them in cash for their goods. Only one shopkeeper said he was happy with the sale pace till now and hoped that buying would pick up after 15th Ramazan, as those who wanted to buy would buy and at least people would buy new clothes for their children.
While talking to various female shoppers of posh areas said they had already completed their shopping for Eid clothing. However, the women from other areas, especially the salaried class, said they were still midway through their Eid shopping or have yet to start.
The city's tailors told Business Recorder that most of them were almost done taking orders and would soon start working behind closed shutters. "I am already overburdened with Eid orders and I cannot handle any more orders," Javed, a tailor said, adding that orders were entertained on a first-come-first-serve basis.
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