Lahore: 80% decline in businesses reported

[Naveed Yaseen]

* Anjuman Qaumi Ittehad finance secretary says citizens uncertain of security, not visiting markets

By Afnan Khan

LAHORE: The ongoing political turmoil, the long march, and the 3/3 terrorist attack at Liberty Market have proven to be detrimental for businesses across the city, as Liberty traders reported on Thursday an 80 percent decline in business activity.

While the situation at Liberty is understandable after the 3/3 attack, the situation outside the city is not different, as rumours about violence and arrests have left people uncertain. After imposition of Section 144 in various parts of the province, many have reported hesitancy in going for shopping or other activities.

Markets situated at Panorama Centre, Hall Road, Anarkali, Shah Alam Market, MM Alam Road, Gulberg Main Market, Gulberg Mini Market, Ghalib Market, Township, and Barkat Market reported a sharp decline in the number of sales. Anjuman Qaumi Ittehad Finance Secretary Babar Ali Bhatti said the ongoing political situation had resulted in a big blow for businesses of various areas.

Security issues: Bhatti said even the busiest markets of the city, which previously remained jam-packed with customers, had suffered a decline of at least 80 percent in sales. He said people were unsure of their own security amidst the country’s political crisis. He said a businessman’s survival had become hard in the country, adding that this would have enduring consequences for the country’s economy. “This is the season of marriages, the peak of the business activity. We earn enough during this time period to survive during rainy days, but the peak itself has translated into rainy days,” he protested.

He said the terrorist attack at Liberty had left a bad impact on residents and shopkeepers of the area. He said the attackers were still missing and could conduct another similar attack to deteriorate the situation.

Owner of a shop at Liberty, Amjad Zaheer, said the government should realise that the country was passing through a sensitive phase and it was time to shed light on the plight of the people, especially businessmen. He said the government should take the business community into confidence by providing them security, so they could come back to the market with the same enthusiasm.

http://www.dailytimes.com.pk/default.asp...09_pg13_11