The novel coronavirus outbreak has dealt a massive blow to clothing retailers ahead of the Bangla New Year, but now traders in Chattogram are also fearing the worst for the upcoming Eid-ul-Fitr, bdnews24.com reported.
Chattogram clothing markets are usually abuzz with customers before the start of Ramadan every year. However, the situation is very different this year with traders bracing for big losses in an unprecedented turn of events.
Teri Bazar is the largest wholesale clothing market in Chattogram. Eid sales are the market's life blood, according to traders.
“The bulk of the profit is generated during Ramadan and the month before that in Teri Bazar. It will be very difficult for us to compensate for the losses this time,” Humayun Kabir Manik, the head of the establishment, told the news agency.
Workers are getting paid even though the market is closed, according to Humayun. A lot of the money generated by the market goes towards paying salaries every month but there are a lot other associated costs as well.
“The government is providing incentives to various sectors. We do not yet know if we will get one. We want waivers on bank interests and taxes along with government incentives,” Abdul Mannan, general secretary of Teri Bazar Business Association, told the news agency.
Zahur Hawkers' Market is another popular joint in Chattogram. Businessmen there reiterated the dire consequences of the coronavirus and warned that the losses may be irreversible.
Another market reeling from the effects of the outbreak is Tamakmundi Lane Reazuddin Bazar.
The economic strains on buyers and sellers could result in a 60 per cent decline in sales this year, according to Ahmed Kabir Dulal, general secretary of Tamakmundi Lane Merchants Association.
Imports from several countries, including China, have been halted due to the coronavirus, he said. As a result, traders have not been able to prepare for Eid, he added.
