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Showing posts from November, 2007

Lights out this Deepavali; a sign of things to come?

FINANCIAL TIMES By Aamna Mahmoob Although the main street markets were usually crowded places during festival time, the recent price hikes in essential goods have had an adverse effect on the purchasing power of festival shoppers. It is also having a big impact on the textile industry which is highly dependable on festive sales. S. Sasidharn a businessman along Kamaleshwary Main Street for more than 15 years who had been through many ‘ups and downs’ says that this year has been the worst for the business. He said “compared to last year this year Deepavali business is low and we have to reduce the prices of every thing to the margin and we expect small amount of profit.” N. Savetree, a house wife whose husband is the sole bred winner in the family in the meantime says that she cannot spend as she used to for Deepavali. She said that she was forced to buy groceries with a tight purse. “Compared to last year it is very hard. We have to check the price and purchase goods. The cost of livin...