KARACHI: Electronic products’ sale has plummeted by 65 percent in the wake of depreciated rupee and slowdown in the economy, while the small shopkeepers have shut down their business.
Karachi Electronic Traders Association (KETA) sources told Geo News that this being the wedding season was seen best for the sale of electronic items, yet the sale has significantly slumped due to economic slowdown, regulatory duty by the government and the hundred percent LC margin slapped by the Central Bank. The sale of washing machine, juicer, toaster and electronic heater has dropped by 35 percent, while fridge, deep freezer, and air conditioners’ sale has almost dissipated, he said. Sources said that the small shopkeepers running business in rented shops were hard hit and 25 percent of them have closed their business. On the other hand, State Bank data said that the imports of electronic products shot up by 20 percent have reached up to $350 million.
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