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Karachi Traders Threaten the Government to Fix the Economy or they will shut down their Shops

Real Estate News
03 Jul 2019
Karachi Traders Threaten the Government to Fix the Economy or they will shut down their Shops

Karachi Traders Threaten the Government to Fix the Economy or they will shut down their Shops

Karachi: The small traders of Karachi have rejected and overruled the Federal Budget 2019-20 and have also started to protest against it.

As per the claim of the traders, the incumbent government has taken wrong economic decisions and now peeling everything off from the people as well as businessmen. Several trader associations residing in Karachi have come forward and have started protesting against the economic conditions. They marched from Regal Chowk Saddar towards Karachi Press Club, yesterday.

Karachi Traders Action Committee had a meeting in this regard on Monday and everyone supported the decision of protest against the economic policies as well as the budget presented by the Federal Government led by PTI.

It is expected that this protest march in Karachi is the first demonstration by the traders against the incumbent government and the protest is soon to transform into a full-fledged campaign against prevailing economic conditions. Representatives of various trade associations have decided that if the government will not react upon their demands than they will resort to shutter-down strike to ensure proper record of the protest.

As per the traders, the government’s economic policies have actually crippled the businesses all-round the country. Markets are currently deserted and the shopkeepers are helplessly waiting for any improvement.

The traders of Karachi claims that they are witnessing the continuous decline in the value of the rupees against the dollar and hence the price of imported goods are reaching the next heights. The core essential items such as sugar, spices, cooking oil, ghee, tea, and powdered milk have come too much costly. Even the milk of children’s are now not easily affordable.

Anis Majeed, the Chairperson of Wholesale Grocers Association informed the news sources that the rupee’s depreciation has caused the severe hike in the prices of every essential commodity and has increased to at least 25%.

The traders shut down Saddar market to protest heavy taxes imposed on them. They further added that the prices are expected to rise more as the new consignment of imported goods is soon to reach the destination. If the prices continue to increase in this way, every market in Karachi city will be closed.

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