Eid in the Midst of Covid Upturn
In view of the last year Post Eid covid spike, mounting to a current deadlier case third wave.
The Factors such as the reduction of shopping time, fear among people; restriction on socialization, decrease in family incomes and inflation.This have converged to further scale down the volume of Eid business; this year by a projected 20 per cent to Rs448 billion from Rs560bn in 2020.
However, this time around the Government has come up with further restricted environment to limit the spread of coronavirus Post Eid. Safety protocols strengthened by banning indoor & outdoor gatherings, Saturday & Sundays declared off, restricted market timings as well as inter-city mobility.
With inventories piling; brands are forced to resort to heavy and frequent markdowns; which is hitting the bottom line’
GDP contracted by 0.4pc in the year 2019-20. This justifies the decline in family incomes; and increase in inflation during this period which ultimately squeezed EID budgets.
Standing against Government orders, Pakistan Traders association says all businesses will operate till chand raat
According to the All Pakistan Traders Association President Ajmal Baloch, as against the directives of the government, all markets and businesses will operate across the country, including Gilgit-Baltistan and Azad Kashmir.
Pakistan’s coronavirus positivity ratio stands at 9.58%; The thing to see here is this whether the traders submit to the country’s situation or will remain reluctant towards thier dictate.
