The traders have sadly narrated their rain-related ordeal, saying that they have estimated initial losses from the monsoon rains to be around Rs50 billion. According to them,they had suffered unprecedented losses during the month of August due to heavy rains and flash floods.Heavy rains in the city last week wreaked havoc as the city’s weak infrastructure could not sustain the downpour, leading to urban flooding, which affected almost all business activities in the city. The provincial government has initiated a loss assessment exercise surveying the markets, with traders urging authorities to appoint a relief commissioner and compensate the businessmen. Rizwan Irfan of Karachi Electronics Dealers Association said the main electronic markets remained safe. However, some shops in the Nursery Area and DHA suffered some losses. “The old city area was worst hit as markets and warehouses of edibles, cloth and medicines were inundated,” Irfan said. All Karachi Tajir Ittehad Chairman Atiq Mir said around Rs25 billion worth of sales revenue was lost as markets remained closed for seven days, “while initial estimates suggest goods worth Rs25 billion were destroyed due to submerging of markets and warehouses”. “Markets remained closed since Tuesday last week, and even on Monday, 50% of markets couldn’t open,” Mir said. “Traders and markets register around Rs4 billion of sales a day, which was not materialised.” Sabir Sheikh of Motorcycle Manufacturers Association said the main motorcycle market at Akbar Road also remained safe and there were no major losses. Industrialists and exporters have already predicted export loss as production units are inundated as labourers could not reach work, while there has been no transportation and no electricity.
