Traders decry market closures

Urge govt to balance security with economic well-being

LAHORE:

The traders on Saturday expressed serious concerns over the consecutive three-day closures of markets and commercial activities in the capital ahead of the Shanghai Cooperation Organisation (SCO) Summit, warning that the halt in business operations could give a negative impression to visitors of the mega event.

The Chainstore Association of Pakistan (CAP) called on the government to allow businesses to operate during this important event, stressing the need to balance security measures with the socio-economic well-being of the people.

CAP Patron-in-Chief Tariq Mehboob Rana and Chairman Asfandyar Farrukh acknowledged the significance of hosting the SCO Summit but highlighted the potential negative impacts of a complete closure on local communities and the economy, as hundreds of thousands of workers will be affected by the business shutdown during these days.

Rana pointed out that the imposed restrictions would also prevent many children from attending school, depriving them of valuable learning opportunities amidst an education emergency declared by the prime minister just a few weeks ago.

Farrukh pointed out that the likely five-day closure of commercial and industrial activities would lead to severe financial strain for tens of thousands of businesses and countless workers, particularly daily wage earners who rely on consistent employment.

He also shed light on the multiple challenges already faced by businesses in Pakistan, calling for a collaborative approach, inclusive policy-making, and responsive governance to ease the burdens on the business community.

The business leaders stressed the need for a cohesive and clear framework for economic policies that offers stability and guidance to businesses facing uncertainties. They cited past closures resulting from political rallies, electricity crises, smog, and security concerns as examples of the ongoing difficulties.

Rana urged unity among stakeholders and the government, particularly in creating an economic agenda that serves as a comprehensive guide for future growth. He also expressed concern that government policies were being formulated without adequate input from relevant stakeholders within the community, calling for a more inclusive and collaborative approach to policy-making.

Traders from the retail market reaffirmed their essential role in the economy and their commitment to fulfilling that role. However, they urged the government to actively listen to their concerns and work sincerely to address them.