‘Karachi traders face around Rs12 bn losses’

KARACHI: Traders claim that businesses in the rain-hit port city alone had suffered colossal damages of around Rs12 billion in the last few days.

Rain in the metropolis, also known as the country’s commercial hub, began on Thursday, causing widespread flooding, shattering 89-year-old records.

“The torrential rain spells and ensuing closures of businesses has caused 10 to 12 billion rupees of losses so far,” Atiq Mir, President of the All Karachi Tajir Ittehad, told Arab News.

“No business activity could be carried out in the last two days.” He added that property losses due to flooding were yet to be counted since water had not receded in many areas.

Some traders claim that business centers located in the old city quarters, a cluster of wholesale markets that supply various commodities across the city, had suffered most.

“The old city area has been hugely affected since water has ruined goods worth millions of rupees. Urdu Bazaar, which supplies books and other stationery products to every corner of the city, is almost completely submerged,” Asif Gulfam, Chairman of the Alliance of Arambagh Markets, told Arab News.

Most parts of Karachi remained without electricity and telecommunication services on Friday, though some of its residents still managed to use social media networks to document the situation in their neighborhoods and express frustration.

“We live in Defense Housing Authority, a posh residential area of Karachi, where there is no electricity for about 30 hours. There is no WiFi and the cellphone service is patchy,” Syed Johar Ali Qandhari, a businessperson, said in a Facebook post on Friday evening.

“There is more than four feet of water in our vicinity since yesterday. About one foot of water is standing at our ground floor. All furniture and other items got drenched in water and were damaged.”

Meanwhile, the country’s metrological department warned Friday evening that another monsoon rain bearing system was likely to enter the province today.

“Heavy rainfall may further aggravate existing urban flooding/water logging in Karachi, Hyderabad, Thatta, Mirpurkhas, and Badin on Sunday and Monday. Heavy downpour may generate flash flooding in Sibbi, Kalat, Khuzdar, Lasbella and Dera Ghazi Khan during the period,” the Met office warned in a statement.