Eid in Karachi—only 174 billion spends on purchasing
REPORT BY SAAD ALI
On the occasion of Eid-ul-Fitr, over 174 billion of money has spends for shopping in Karachi only while State Bank of Pakistan (SBP) issued fresh currency notes amounting Rs 360 billion to citizens.
After the peak of inflation, citizens of Karachi had shopped for their charm of Eid at the approximated cost of 174 billion.
In respect of spending, shopping was continued in market at late 3 AM. The gathered facts from all the corners of Karachi city the numbers approaches to ultimate 174 billion only for to shop for Eid Days.
The shopping malls were worst rushed of citizens, while the buyers preferred different expensive brands although it’s a matter of to look good and divergent.
Keenly, through a special research, it was estimated that the citizens shops much more then the past year.
The cost of men kurta brought for Eid al-Fitr was capturing market from Rs 3200 to 5800 while the entire suit was sold up to Rs 6000.
When it’s a matter of looks how it could be possible that women’s would stay at back bench.
According to the special figures, 40 % of the purchases are reserved on women and children. The men’s Kurta’s of major brands in malls are from Rs. 2900 to Rs 9000.
Whereas, entire dress of women were sold at 6000 to 18000 rupees. Women’s shopping also includes shoes, make-up cosmetics, and other matching accessories.
Market of Tariq Road featured as most visited and preferred amongst the others.
Whereas on the other hand a statement issued by State Bank of Pakistan, said, “Unmarked banknotes were distributed from 16 of its field offices across the country.”
“Fresh banknotes of various denominations aggregating to Rs. 360 billion, including Rs. 61 billion of Rs.100 and below denominations, via cash counters of banks and SMS service (8877) to the general public during Ramazan”, the statement read.
It added that Rs 54 billion of the issued Rs 61 billion Set featured image were given via SMS service which was available in 142 cities through more than 1,700 commercial bank branches and 16 field offices.
The Banks of Pakistan has issued banks a new currency on a large amount; so that ATMs operations and availability of cash in them during the Eid ul-Fitr’s holiday continued or not be effected.
For this purpose, specialized teams comprising State Banks and SBPBSC personnels monitored ATMs across Pakistan.