Pakistan is expected to generate 20 percent additional revenue from sales during Eid-ul-Fitr compared to last year due to businesses remaining open till 2 am, revealed traders and representatives of Islamabad Chamber of Commerce while talking to Business Recorder on Saturday.
President, Islamabad Chamber of Commerce, Atif Ikram Sheikh told this correspondent that on such occasions, the government should subsidise prices and waive-off taxes on various items during the month of Ramadan keeping in view a lack of price control enforcement by the provincial authorities and weak government policies on price control that added to inflation.
In the markets and bazaars hectic buying was observed despite prevailing high prices with most markets in Islamabad and Rawalpindi closing businesses at sehri. Taking advantage of upgraded security arrangements, timely release of salaries/pension payments and late night shopping opportunities, the businesses are benefiting. The markets are illuminated with colourful lights in a bid to attract people, but at the same time high inflation has made it almost impossible for most families to shop for Eid-ul-Fitr.
A 50-70 percent increase in prices of shoes, garments, jewellery, cosmetics and toys are witnessed when compared to prices prior to the advent of Ramazan was observed during visits to various shopping centers and markets around the capital. Although Eid shoppers thronged markets and shopping centers to purchase clothes, people were mostly seen buying second-hand clothing due to exorbitant prices of brand commodities.
"With high prices of most products, it is not easy for some people to buy new clothes, shoes etc on Eid, so we have been left with no option but to purchase second-hand stuff", said Ahmad a Eid shopper while talking to this scribe. "I had purchased a suit for my son for Rs 900 last year, which is today being sold at markets for around Rs 2,200 to Rs 2,500...such a huge difference is unimaginable," Ahmad lamented.
The ruthless shopkeepers were not even slightly moved, and when asked about exorbitant prices, they replied, "It is time to earn profits and our prices are justified as everything has become expensive". "We await such occasions, but as business costs [rent, transportation, labour etc] have increased manifolds, we are left with no other option but to make the most sales during such occasions and especially on Eids", said shop owners.
A significant increase in prices of women garments was also witnessed. A medium quality ladies dress is being sold for between Rs 4,000 and Rs 5,000 while the same dress was available between Rs 2,000 to Rs 2,500 prior to Ramazan, while good quality ladies readymade garments were priced at Rs 6,000 and above depending on quality and brand name. While non-branded ladies footwear ranged between Rs 2,500 and Rs 5,000. Even bangle prices showed an increase with ordinary bangles being sold at Rs 160 to Rs 200 per dozen while the price of fancy bangles ranged between Rs 450 to 600 per dozen, while 'cone mehndi' was being sold for between Rs 50 to Rs 60 per cone which was previously available for between Rs 5 to Rs 30.
The price of ordinary non-branded men's suits were being sold for between Rs 2,500 to Rs 4,000 while good quality men's wear suits were sold for between Rs 4,000 to Rs 7,000 with a 30-50 percent hike recorded in the prices of children's clothing, shoes and toys. Furthermore, most Eid shoppers at various shopping centers and markets in the federal capital complained about arbitrary price increases by retailers and said that the government has miserably failed to put in place a meaningful price control mechanism.
Comments
Comments are closed.