Shortage of essential items feared during long market closure

Wholesale markets’ shutdown likely to take inflation to all-time high

RAWALPINDI:

Wholesale markets in the twin cities of Islamabad and Rawalpindi will remain closed for five consecutive days on the occasion of Eidul Fitr however this closure has raised concerns over the potential inflammatory impact it can have on the economy of the country.

According to sources, all the wholesale markets dealing with vegetables, fruits, flowers, pulses, sugar, and flour will remain closed during the Eid holidays. This unprecedented closure is expected to cause significant disruption to the supply chain and pricing of these commodities, including fruits, vegetables, flowers, and leaves.

As a result of the market closures, there will be no inflow of goods from external districts to Rawalpindi, which is expected to result in a potential shortage of commodities and exacerbate inflationary pressures. Furthermore, the transportation of goods is likely to be hampered due to the Eid holidays, with many drivers and their assistants taking time off during this period. The closure of wholesale markets and subsequent disruption to the supply chain could, therefore, pose significant challenges in managing the cost and availability of essential commodities.

Moreover, this closure is also expected to result in a severe scarcity of vegetables and fruits in the local market. The disruption in the supply chain for two days is likely to exacerbate this situation as well, leading to potential shortages for consumers. However, this presents an opportunity for merchants and pushcart vendors who have stocks of these commodities, as they may be able to capitalise on the scarcity and potentially earn double the usual amount.

As per the government order, the markets will close early on Chand Raat and will reopen on April 25, said Secretary of Fruit and Vegetable Table Association Afzal Khan. He said that no vegetables or fruits will be supplied from outside the districts at this time; therefore, fruits and vegetables may be sold for Rs500 per kg and at Rs400 to Rs450 per dozen, respectively.

Published in The Express Tribune, April 19^th, 2023.