Chinese branded electronic items and mobile handsets have seen a rise in prices in local markets due to an imbalance of supply and demand from China in the wake of Corona Virus, local traders said.
LED TV sets witnessed a surge in demand by over 10 percent due to Pakistan Super League 2020 and prices of various Chinese brands saw a hike of Rs. 2,000 to Rs. 5,000 in the local market.
Containers of various items and assembling units have not been released from port since the last week of December in the wake of the new deadly virus spread in various countries, said Muhammad Rizwan Irfan, President Karachi Electronics Dealers Association.
Chinese branded mobile handsets also saw an increase of Rs. 1,000 to Rs. 2,000 in recent weeks. The supplies of handsets have been ceased for more than two months whereas the stocks of the dealers are depleting every day, which is being cashed on by local dealers and retailers.
If the supplies of the handsets and other electronic items are not continued in the next few weeks, the situation for business and customers will get problematic, he added.
The prices of air-conditioned have gone up to Rs. 5,000 despite low season, he further said. The demand for ACs will grow in the next few weeks across Pakistan and there are fears of a shortage.
In the past few months, the sales of the various electronic items have also been down comparatively due to lower demand in the wake of eroding purchasing power of customers. Dealers and traders were offloading their stocks with limited imports of new products.
The local market also saw an artificial shortage of computer accessories.
Khushnood Aftab, President Computer of Association of Pakistan (Karachi Chapter) said the stocks of branded and reconditioned laptops and major accessories are well enough in the local market despite the interruption of import from China.
He said the local dealers already maintained their stocks in January due to holiday season on the account of Chinese New Year in February. Besides, the local lower demand for computers did not put pressure on the supply side for the past many months luckily.
He fears that the situation might get worse if the prevailing situation continues over the next weeks and month.