DAILY BUSINESS NEWS IN BRIEF: 19.08.2011

Violence mars business activities in Karachi

KARACHI, Aug 18: The customer turnout in most of the shopping centres was less than normal, while all major wholesale markets in the old city area remained closed on Thursday as violence erupted again claiming over three dozen lives in just two days.
Traders expressed anxiety over the deepening trend of lawlessness and rising incidents of extortion of money by bhatta mafia, distribution of (parchi) paper slips demanding money, threatening phone calls and street crimes.
They said repeated closures of markets had badly affected their daily business turnover which resulted in piling up of unsold stocks.
All Karachi Tajir Itehad President Atiq Mir said main markets in Kharadar, Meethadar, Juna Market, Chappal Market, Jodia Bazaar, Sarafa Bazaar, Marriot Road, M.A. Jinnah Road, Khajoor Market, Lea Market, Khori Garden, Medical Market, Denso
Hall, Paper Market, Bombay Bazaar were completely closed.
These wholesale markets are main source of supplies to the entire retail outlets in the city.
The city remained tense after the rising number of deaths and many markets, which are not directly hit by the violence, wore a deserted look besides traffic was also thin.
Traders also held a demonstration at M.A. Jinnah Road and Jama Cloth Market to protest against deteriorating law and order situation. They also offered funeral prayers in absentia for two traders who were killed in the city during the current wave of violence.
“Trade loss is estimated at Rs1.5 to Rs2 billion on Thursday due to closure of over 80 markets located in old city areas,” he said.
“Traders have lost confidence in the government as the situation in the city is getting bad to worse. No tangible efforts have been made by the government to restore peace and expose bhatta mafia in many markets,” Atiq deplored.
He said Police and Rangers had failed to protect the business community and “traders feel that the city’s management control should be handed over to the Frontier Corps or the Army.”
Traders have been protesting against Bhatta and Parchi mafias for the last two years and due to complete ignorance by the law enforcement agencies these gangs are trying to take over the business of traders, he added.
President Karachi Chamber of Commerce and Industry (KCCI) M. Saeed Shafiq told Dawn that the KCCI members were coming up with various proposals and majority among them was in favour of giving strike call.
He, however, thought strike was not a best solution.
He added “many members feel that KCCI should raise voice for handing over Karachi to the Army.”
Shafiq said he had talked to federal and Sindh interior ministers Rahman Malik and Manzoor Wasan on rising incidents of extortion and harassment by bhatta mafia and worsening law and order situation.
He said he had asked Mr Manzoor Wasan to make constitutional changes by expediting speedy trials of culprits so that they could get instant punishment. The chamber also demanded end of political influence on police to improve its efficiency.

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Mohammed Saleem Mansosori