AGL 38.45 Decreased By ▼ -0.03 (-0.08%)
AIRLINK 198.50 Decreased By ▼ -4.52 (-2.23%)
BOP 10.00 Decreased By ▼ -0.17 (-1.67%)
CNERGY 6.29 Decreased By ▼ -0.25 (-3.82%)
DCL 9.35 Decreased By ▼ -0.23 (-2.4%)
DFML 39.30 Decreased By ▼ -0.72 (-1.8%)
DGKC 97.47 Decreased By ▼ -0.61 (-0.62%)
FCCL 35.35 Increased By ▲ 0.39 (1.12%)
FFBL 86.90 Increased By ▲ 0.47 (0.54%)
FFL 13.65 Decreased By ▼ -0.25 (-1.8%)
HUBC 129.18 Decreased By ▼ -2.39 (-1.82%)
HUMNL 13.80 Decreased By ▼ -0.22 (-1.57%)
KEL 5.26 Decreased By ▼ -0.35 (-6.24%)
KOSM 7.45 Increased By ▲ 0.18 (2.48%)
MLCF 45.10 Decreased By ▼ -0.49 (-1.07%)
NBP 60.99 Decreased By ▼ -5.39 (-8.12%)
OGDC 216.28 Decreased By ▼ -4.48 (-2.03%)
PAEL 39.09 Increased By ▲ 0.61 (1.59%)
PIBTL 8.57 Decreased By ▼ -0.34 (-3.82%)
PPL 194.50 Decreased By ▼ -3.38 (-1.71%)
PRL 39.09 Increased By ▲ 0.06 (0.15%)
PTC 25.50 Increased By ▲ 0.03 (0.12%)
SEARL 104.45 Increased By ▲ 1.40 (1.36%)
TELE 8.66 Decreased By ▼ -0.36 (-3.99%)
TOMCL 36.15 Decreased By ▼ -0.26 (-0.71%)
TPLP 13.82 Increased By ▲ 0.07 (0.51%)
TREET 24.61 Decreased By ▼ -0.51 (-2.03%)
TRG 56.85 Decreased By ▼ -1.19 (-2.05%)
UNITY 33.15 Decreased By ▼ -0.52 (-1.54%)
WTL 1.63 Decreased By ▼ -0.08 (-4.68%)
BR100 11,708 Decreased By -182.5 (-1.53%)
BR30 36,477 Decreased By -879.8 (-2.36%)
KSE100 109,568 Decreased By -1502.7 (-1.35%)
KSE30 34,435 Decreased By -473.8 (-1.36%)

Markets on Friday went to early closures after the spontaneous violence erupted in different parts of the city following killing of an MQM provincial lawmaker along his son, traders say. Trade organisations of the city also announced to support the MQM mourning today (Saturday) to denounce the killing of his lawmaker Sajjad Qureshi to keep markets closed in the city.
Sindh Tajir Ittehad (STI) and All Karachi Tajir Ittehad (AKTI) issued their condemnation messages to condole with the MQM on the murder of its member and his son. The city wore immediately a deserted look after the spread of news of MQM member, resulting in panic among the traders, transporters and general public with no time, traders say. Thin public transport buses were witnessed overloaded to help citizens reach their destination, but many were seen waiting on bus-stands to find one. Patrol pumps and CNG stations were immediately closed with protective covers around them to avoid violence, leading to problems for the motorcyclists, rickshaws and buses, besides private cars to fill fuel ahead of a day of closure.
Citizens failed to make purchase of their needs as markets were forced to close in early evening hours, traders say, adding that they would not resume trade activities on Saturday because of the MQM strike call. The impact of violence hit a number of markets in downtown and old city area and forced them to a premature closure, leaving traders without doing much of their daily business activities, they said.
The early closures of markets particularly the wholesales ones ceased transportation of essential kitchen and medicines to the city's different parts. "About Rs 3 billion loss is estimated on a closure day," says Chairman AKTI, Atiq Mir. After 3 pm as the traders came to resume businesses the violence griped parts of the city following an unfortunate incident of MQM's lawmaker's killing, he said. He said nearly 80 percent markets in the city immediately went into closure, adding markets would remain closed on Saturday on the MQM mourning day.

Copyright Business Recorder, 2013

Comments

Comments are closed.