Ishaq Dar told Ghouri that the Prime Minister Nawaz Sharif has taken notice of the incident and that the Federal Government will compensate the losses.
He told that the center will provide all possible assistance to the affectees, who had seen their goods worth millions of rupees reduced to ashes.
Earlier on Saturday night, a third-degree fire erupted in Karachi’s timber market, which was extinguished after 11 hours.
The fire broke out at a wood godown at timber market around 11pm. The blaze intensified and spread to residential buildings causing the residents to shift to safer places.
Wood and other goods worth billions of rupees were all burnt to ashes during the incident.