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Arab News
18-06-2025
- Business
- Arab News
Massive fire at Karachi electronics market causes over $3.6 million in damages — union
ISLAMABAD: A large fire that ripped through the Aamir Electronics Market in Karachi's Saddar area this week and destroyed more than 40 shops and several warehouses has caused financial losses estimated at over Rs1 billion ($3.6 million), according to the president of a local association. The blaze broke out unexpectedly on Monday afternoon and quickly engulfed large parts of the electronics hub, reducing inventories of batteries, solar panels, and other high-value goods to ashes. Traders said they were unable to save most of their merchandise as the fire spread rapidly. 'The government should immediately compensate the affected shopkeepers and work with the association to help them restart their businesses,' said MinHajj Gulfaam, President of the Karachi Mobile and Electronics Dealers Association (KMEDA). 'We also demand that trade associations be equipped with their own firefighting systems, just like some industrial associations. Preventive measures are urgently needed.' Initial reports suggest an electrical short circuit may have caused the fire, though some eyewitnesses claimed it started in an adjacent empty plot where garbage was being burned and later spread to the market. Authorities have not issued an official cause. Traders said fire brigade teams arrived late at the scene, by which time the blaze had intensified, adding that they tried to extinguish the flames themselves but the damage was already extensive. Affected traders are calling for stronger enforcement of fire safety regulations and dedicated fire response units for high-density commercial zones. Fires in commercial markets have become alarmingly common in Karachi. In April 2023, a fire at the city's Cooperative Market destroyed dozens of shops, and in August 2022, a multi-story mobile phone market near Saddar also caught fire. Many old commercial markets in Karachi have outdated electrical infrastructure and shopkeepers often add extra appliances, fans, lights, and unauthorized connections, leading to short circuits and electrical fires. Building codes and fire safety rules exist but are rarely enforced. Most markets don't have proper fire exits, fire alarms, or functional extinguishers. Many are overcrowded with encroachments and illegally added stalls. Karachi's wholesale and retail markets, like Empress Market, Bolton Market, and Cooperative Market, often sprawl into narrow lanes with flammable goods stacked in unsafe conditions. Unauthorized mezzanines and storage units block escape routes and complicate firefighting. Karachi's fire brigade has also long struggled with outdated equipment, an insufficient number of vehicles, and poor access to congested market streets. Fires sometimes rage for hours before being brought under control. Occasionally, traders or shop owners have also been suspected of starting fires intentionally to claim insurance money or erase debts, though proving this is challenging.
Business Recorder
10-06-2025
- Business
- Business Recorder
KMEDA urges govt to revisit ‘unjustified' taxes, duties
KARACHI: Karachi Mobile and Electronics Dealers Association (KMEDA) has presented key suggestions ahead of the budget 2025–26, urging for tax reforms on electronic items. President of the KMEDA Minhaj Gulfam has put forward these proposals to the federal government. He urged the federal government to consider a substantial and immediate reduction in what he described as 'unjustified taxes and customs duties' on mobile phones, laptops, computer parts, tablets, and other electronic products. Gulfam highlighted that the current fiscal year's high tax rates on electronic items have created serious challenges for the business community, as well as, for customers. 'These excessive duties have disrupted imports and caused a significant rise in retail prices, placing a heavy burden on consumers.' He said that these products are essential in the digital era, playing a crucial role in education, employment, freelancing, online business, and the overall vision of a 'Digital Pakistan.' According to him, the existing tax regime is one of the main obstacles to growth in this sector. He asked the government review its tax policy in the upcoming budget and take meaningful steps to ease the financial pressure on both businesses and consumers. Copyright Business Recorder, 2025
