Karachi: Traders in Karachi have suffered a huge loss of about Rs50 billion due to the last month’s torrential monsoon rains.
This was stated by All Karachi Tajir Ittehad Chairman Atiq Mir.
Quoting initial estimates, he said that sales revenue worth Rs25 billion had been lost due to closure of markets for about a week in the city. Besides, goods worth Rs25 billion were destroyed due to flooding of warehouses and markets.
Atiq Mir said that the old area was the most affected area of the city as it housed wholesalers, warehouses and retailers.
The Sindh government had already declared Karachi among 20 districts as calamity-hit areas.
