Dreams of Eid sales turn to ashes

The traders at Bangabazar, whose businesses have been crippled due to the coronavirus pandemic, the Russia-Ukraine war and the ongoing inflation, had their eyes on the upcoming Eid-ul-Fitr to gain more profit this year and recover from the losses.

However, the massive fire that started after Sehri at the capital’s Bangabazar, gutted thousands of shops and turned all the dreams of the traders into ashes.

Many traders had banked big on Eid sales to recoup from seasons of losses due to various reasons. They had invested big in hopes of healthy returns but their hopes went in vain.

Now the tension grief traders that how they will repay the bank loan and other loans that took and invested in their shops ahead of the Eid festival.

Talking to The Business Post, the affected traders said they borrowed money from banks, NGOs and their relatives for investing in the shops promising lenders to pay the loan from the profit of Eid season business.

But the devastating fire shattered their dreams and took away everything and even they are also worried about the further resumption of the business at the markets.

A trader Kawser Alam said, “The fire gutted everything and I’m now a street beggar. We had two shops here. There was Tk 2 crore worth of clothing.”

“I took a loan of Tk 15 lakh from a bank while five more lahks from our relatives and my all money invested in the business ahead of the Eid aiming to good profit in the Eid season but all my dream trued into ashes and nothing is left, it’s all over,” said Kawser in front of his burnt shops in Bangabzar.

During a visit to the spot, it was seen that while the firefighting units battled a growing inferno, shop owners and keepers were seen crowding in front of the market. Many were trying to salvage whatever they could.

Many traders were seen crying on the streets losing their shops, business and investment in the fire.

Siblings Md Bilu and Selim– who owned Swadhin Garments and Ira Garments in the market – said there was Tk 1 crore worth of goods in our two shops but we could not even save one-third of the products.