The COVID-19 pandemic has taken the sheen off markets in Vizianagaram, with major markets like P.W. Market, Balaji Textiles Market, Ulliveedhi market and newly-developed shopping areas on Ring Road wearing a deserted look throughout the day.
Normally, PW Market used to witness brisk business from 7 a.m. till 9.30 p.m. as it is a major wholesale market for essential goods. Traders from Odisha, Visakhapatnam and Srikakulam would come to buy goods in this market that was established during British rule.
Till March 23 this year, people used to struggle to walk through the crowded market. Now, the situation has changed significantly, and even four-wheelers are seen moving freely during peak business hours from 10 a.m. to 2 p.m., with a drop in sales in almost all the shops and establishments. The clock tower junction to Sri Kanyakaparameswari temple area is witnessing dull business. Many jewellery showrooms, hardware, electrical shops and hotels were open only in the morning session due to lack of transactions.
“The decline in economy has taken a toll on all sections. Due to lack of money, and fear of the pandemic, many people have completely stopped coming to shops. They are going out only to buy essential commodities once a week. Some of them are going to local shops in their vicinity instead of coming to PW Market. These have led to a drop in transactions. The situation may not improve unless the COVID-19 situation is controlled in the country,” said Kapuganti Prakash, president-elect of Vizianagaram Chamber of Commerce.
Many shopkeepers are also unable to pay rents which range from ₹30,000 to ₹1 lakh in main roads. The big showrooms located in prime areas have to pay up to ₹2.5 lakh rent per month to property owners. Fortunately, some owners have agreed to reduce the rents and are allowing late payments.
“Payment of electricity bills and salaries to the staff cannot be avoided. The loss for traders ranges from ₹5 lakh to ₹20 lakh in the last three months. The financial situation will deteriorate if economic activity is not improved at all levels,” said a textile shop owner of Vizianagaram.
