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Home BUSINESS BUSINESS NEWS

Markets In Kashmir Witness Sluggish Sales Ahead Of Eid

by Press Trust of India
July 8, 2022
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People throng an outdoor market ahead of the Eid al-Azha festival in Srinagar on Friday,| KO photo

Srinagar- Eid is only days away but the festive buzz is missing in markets across Kashmir and sales have been sluggish due to the COVID-19 pandemic and inflation, according to traders.

There has been a steep rise in prices of essential commodities. Due to this, people are not willing to spend much on non-essential items, traders said.

“There isn’t much economic activity owing to the COVID-19 pandemic. It has wreaked havoc on the economy and people,” Gulzar Ahmad, who sells ready-made garments at Lal Chowk, said on Friday.

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People’s purchasing power has gone down due to the successive lockdowns in the wake of the revocation of Jammu and Kashmir’s special status in 2019 and the COVID-19 pandemic. Inflation has also affected them.

“Inflation has touched new heights. The prices of all essential commodities have skyrocketed, which has burned a hole in the pockets of the common man. People aren’t ready to spend much on non-essential items,” the businessman said.

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Javed Ahmad, who runs a crockery shop, said the markets are seeing lower footfall compared to the pre-Covid period and the sales are dismal.

The festive rush is also missing at bakeries and sweet shops.

“Not many such shops have seen brisk sales. If a customer comes, he usually buys less,” a bakery shop owner said.

Shabir Ahmad, a local resident, said due to pay cuts and job losses in the private sector, people are not interested in shopping for Eid.

However, the sales of sacrificial animals remained unaffected.

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