Business

KARACHI – All Karachi Traders Association President Atiq Mir on Friday said that Karachites spent only Rs. 50 billion on Eid-ul-Fitr shopping, which is 30 percent less than what they spent during the retail record-breaking Eid last year.

Talking to news persons  in Karachi, Mir said that last year the residents of Karachi had spent Rs. 70 billion on Eid shopping.

“There could be multiple reasons behind this sharp decline,” he said while answering a question at the press conference.

He added that the shopping graph was expected to reach Rs. 100 billion by the end of July.

A 10-year old Eid shopping record was broken in Karachi last year when residents spent Rs. 70 billion rupees during the season.