ISLAMABAD: Schoolgirls showing keen interest in flags, buntings, badges, masks and caps on Friday.—Online
A retailer at Gurumandir was seen selling 1.5 ft flag for Rs100. He said the same sized flag was priced at Rs80 last year, citing the 5-10pc hike in wholesale rates as the reason. One set of bangles (2 inch size) can be purchased at Rs100 as compared to Rs80 last year.
The wholesale hub at Hassan Ali Affandi Road near Paper Market wears a festive look. Prices of independence day related items are lower than roadside stalls in various areas of the city.
Stalls are loaded with flags, T-shirts with trousers, bangles, badges, wrist bands, caps, face masks, glasses, balloons, glasses, CDs of national songs, etc.
The number of investors in this business has increased manifolds this year, with many lifting the stocks from wholesale markets much earlier this year — hoping to make a windfall.
President All Karachi Tajir Itehad Atiq Mir estimated Rs10bn sales of various items in Karachi this year as compared to Rs5bn in 2015, while sales in Lahore are estimated at Rs5bn as compared to Rs2.5-Rs3bn last year.
He said nationwide sales of these items may hover between Rs40-50bn as compared to Rs20-25bn last year.
However, he said surprisingly many people do not know that a sizable quantity of festive items including Pakistani flags, badges and T-shirts have arrived from China due to lower rates on account of cheap labour cost and fabric prices.
Published in Dawn, August 13th, 2016