KP sees 50pc drop in business activities

PESHAWAR: Like the rest of the country, Khyber Pakhtunkhwa (KP) has witnessed a 50 per cent drop in business activities due to inflation and rising prices of basic commodities.

KP Traders Union President Mujeeb-ur-Rehman told Profit that the rise in prices of food prices, petroleum products and coronavirus has led to low purchasing power of the common man. “The sharp surge in inflation hasn’t only affected the general public but also traders.”

He added that last year’s lock down to curb the coronavirus affected business activities, especially small businesses across the province. “By the time government measures to contain coronavirus were relaxed, the common man had lost the power to purchase food, garments, shoes and other necessities,” Rehman said.

The continuous increase petroleum products have played major role in increasing the prices of essential commodities which have surged 50 to 60 per cent; people are not coming out for Eid shopping either.

Mujeeb said that the business community is facing difficulties due to the drop in sales during Eid season this year whereas there is no hope of relief in electricity bills.

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He said the government should announce a comprehensive package for small traders in Khyber Pakhtunkhwa who suffered terrorism in the last three decades and were unlucky enough to suffer a pandemic right when they expected things to get better.

On the other hand, Irshad Ali, a government employee from Peshawar, said that the current inflation has not only affected ordinary workers but also government employees.

“The current salaries can hardly fulfill the basic requirements of our households let alone shopping for Eid.”

He said that the minimum wages of workers classes should be increased at the same pace at which inflation has increased during the present government’s tenure.
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