The year 2021 not only proved to be a nightmare for the people due to the relentless onslaught of inflation but also the most difficult year in the history of the country for the traders.
Even as the sun set in on the last day of 2021, the people were given the New Year shock theough mini budget, hike in electricity charges. As a result of weak government grip, the people completely remained at the mercy of illegitimate profiteers.
The basic necessities of life were kept out of the reach of the common man and the people were deprived of two meals a day.
Atiq Mir, Chairman, All Karachi Traders Union, termed 2021 as the year of hardships and difficulties for the traders and said that due to increase in cost of goods on daily basis, price stability of products could not be maintained.
He said that unemployment and inflation had upset the people and traders.
He said that given the government's intentions and the IMF's growing dominance over the country, there is no prospect of improvement even in 2022. The past year has been a year of business problems, nerve-wracking unemployment, staggering inflation and disappointments.
Dollar became stronger while rupee lost its grip. Government measures against corruption were useless and the country was ruled by the corrupt. Street crime, lawlessness and crime have multiplied.
The five-year slump and recession that has plagued the markets for the past several years has not ended. Transport fares became unbearable while travel, transportation and freight became expensive and difficult. None of the government's measures to improve the economy worked out.
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He said that Karachi, the economic hub of the country, was suffering from unbearable inflation, horrendous unemployment and agonising local government. Rising electricity, petrol and gas prices have severely affected trade.
Most of the shopkeepers became indebted to the manufacturers and the manufacturers became indebted to the raw material traders. This year too, traders and people have been waiting for change, but things have not yet changed.
The overall law and order situation in Karachi remained unsatisfactory. The worst performance of the Sindh government continued last year. Most of the city's markets suffered from encroachments, traffic, parking, fires and countless other problems and irregularities.
He said that effective and efficient measures could not be taken to curb street crime. The police system was painful for the citizens and their performance remained ineffective.
Thieves, robbers and looters continued to roam around the streets of the city. Investor confidence could not be restored and investment dropped by 70 per cent. The establishment of new trading units remained less than 10 per cent.
Job opportunities remained scarce. The sales season for businessmen at every festival remained unsatisfactory and buyers were deprived of purchasing power.
He lamented that even in 2021, an acceptable, easy and business friendly income tax scheme could not be introduced. As a result, tensions between the FBR and traders could not be resolved.
Published in The Express Tribune, January 6th, 2022.
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