Traders in Karachi are expecting to meet their Eid Shopping Target of Rs. 60 million in the holy month of Ramadan. Traders from biggest metropolitan city of Pakistan have fixed the target for shopping of Eid ul Fitr, reported Dawn Newspaper.
Each year people spend billions to purchase new clothes, shoes, cosmetics and other things before Eid. The amount seems huge but in previous Eids the sales even exceeded this amount.
- In 2015 people of Karachi spent 70 Billion on shopping
- In 2016 people spent Rs. 50 billion
- In 2017 they spent Rs. 40 billion
Chairman All Karachi Tajir Ittehad, Atiq Mir said that the target is justified. He further said that if 200 million people of Karachi spend Rs. 2,000 on average then the sales will be Rs. 40 billion. It is expected that in 2018 the eid shopping will generate economic activity of around Rs. 400 billion.
Due to the heat wave people are avoiding shopping before iftar. But is expected that with the increase in shopping during the last 10 days the target will be easily met
“The heatwave has ruined our daily sales (before Iftar)” said Mohammad Asif Gulfam who is the Chairman of Alliance of Arambagh Market Association.