MM News

Atiq Mir, a well-known businessman and leader of traders, has claimed that the business incurs a loss of at least 50 billion during Eid, and this year’s business performance has been the worst in recent times.

In an interview with MM News, Atiq Mir said that the Eid sales season of 2015 was the best in the country’s history, with estimated sales of Rs. 70 billion. However, this year’s sales figures stand at only 15 to 20 billion rupees, marking a significant decline in the last eight years. According to Mir, the business has suffered a minimum loss of 50 billion in this period.”

During the conversation, Atiq Mir stated that the country’s current state of excessive inflation and reckless business downturn has adversely affected everyone. As a result, people are struggling to make ends meet and are forced to contemplate the possibility of having only one meal a day. Meanwhile, the business community is grappling with the issue of securing loans to keep their businesses afloat.

“He noted that due to the ongoing decline in business, the business community is exhausting its capital, leaving them unable to extend help to anyone. As a result, we are witnessing a decline in charitable activities as well. This year, we have observed a significant drop of 50 percent in sales as compared to the previous year. Only 40 percent of people have made Eid purchases, with 70 to 80 percent of those purchases being for children’s clothes.

“As a well-known business leader with 52 years of experience, I can confidently say that this is the worst year I have ever witnessed in the past 75 years. The situation is dire, and the decline in business is having an adverse effect on all aspects of our society،” he added.

Atiq Mir expressed his disappointment that the joy of Eid has been marred by the current economic situation, which has led to the destruction of many businesses. As a result, people are facing difficulties in meeting their basic needs, including food and drink. To illustrate this point, he noted that the cost of 10 kg flour has skyrocketed to between Rs. 1600 and 1700, making it unaffordable for many.