Current economic situation cuts purchasing power of buyers; harms sale of commodities, dry fruit

Dry fruit - The News Today - TNT

ISLAMABAD: Country’s current economic situation has put the essential commodities far away from the reach of common man in Islamabad and other parts and people are unable to take daily use items home.

Besides essential commodities, the dry fruit very important to use in winter across the country have also gone beyond the reach of common buyers for its soaring prices due to prevailing recession and inflation with buyers’ footfall plummeting drastically.

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The gorgeous recipes of winter that once used to be an essential component of most of dining tables have now become a distant dream even for the middle class, already struggling to meet its ends in an era of exemplary dearness.

Economic recession, rising inflation, dwindling source of income and the soaring cost of living coupled with lessening purchasing power had brought down the buyers’ footfall to 50 per cent as compared to the previous year.

Thanks to four years government of Pakistan Tehreek-e-Insaaf whose economic policies not only landed the country in real trouble but also deprived common users of essential commodities.

Today, like other parts of the country, the dry fruit markets in federal capital Islamabad, Rawalpindi, Lahore, Karachi, Peshawar, Quetta and other parts of the country have worn a deserted look.

Once packed with customers from across the country, the dry fruit traders are seen sitting idle waiting for buyers as skyrocketing prices had equally impacted the lower, middle and high classes.

Dry fruit prices have registered a massive increase. I feel the result of faulty economic policies of the previous regime has started surfacing,” said a shopkeeper in Islamabad market.

With the start of November and December people were thronging the market to buy dry fruits for beat the cilling cold, But now when it is December and weather turns very cold and known as peak buying season of dry fruit but dry fruit markets not only in Islamabad but all across the country present a gloomy picture.”

Recalling the recent past, Asmatullah a dry fruit seller in PWD Society market said, “Just a few years back we had ample buyers during the season. I am not talking of long ago – it was near when we the shopkeepers could not even spare time to sit in the chair, when the season used to be on peak. But, today shopkeepers are felt like spending leisure time as there are very few buyers.”

The market trends show 50 to 100 per cent increase in prices with prices of Iranian pistachio surging to Rs 2400 to 3000 per kg from Rs1800, almond to Rs 1800 from Rs1000, Indian cashew nuts to Rs 2800 from Rs 2000 and fig prices soaring to Rs 2600 from Rs 1400 per kilogram. Prices of other items like dry grapes, Iranian chickpeas, American walnut also rose to 50 to 100 percent in recent years.

A wholesale dealer of dry fruit regretted the worrisome state of the affair as the business had shrunk massively during the current season. “We used to trade tons of dry fruit during the season. But, this time after seeing the market situation, we are confused to buy stocks.”

“Almost a month has passed since the winter set in but we have not sold even the previous stock,” he said commenting on the uncertain market situation.

It is unique tradition all across Pakistan that dry fruits always remained a compulsory item on the sheets and dining tables usually set for the visiting guests. With its exorbitant prices, now dry fruit is no more an essential dining table item even for those earning handsome money.

“We are forced to cut short the quantity of dry fruits as rising prices had left me with no other option,” said a high official of the Federal Government Department in Islamabad, who despite receiving a sizable salary and finds himself unable to bear the cost of dry fruits, he used to do in the past.

The prevailing economic situation has not only impacted the small businessmen but also wholesalers and big businesses.

Economic downturn and declining purchasing power of consumers had put the businesses of all kinds either wholesale or retail in real trouble. The entire business community is upset about price hike and less purchasing.

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