At least 100 shops were reduced to rubble after a fire broke out on Sunday at Karachi's Cooperative Market in the city's Saddar area, reported Aaj News.

As per initial assessmewnt, the fire caused losses in billions to traders as efforts continue to assess the exact damage.

Accordingo to details, the fire spread from the first floor of the market, with firefighters suggesting that it started in one of the shops on the floor. However, the exact cause of the fire remains clear, with the city's chief firefighter also telling one local news channel that he suspected arson.

Karachi Commissioner Muhammad Iqbal Memon also told journalists that authorities would investigate arson as a loud explosion was heard before the fire.

Meanwhile, the traders and shop owners at the scene of the incident staged a protest and chanted slogans against authorities for the 'inadequate response to putting down the fire'. They also warned of demonstration if they weren't compensated for their loss.

It also resulted in an angry exchange between traders and firefighters, which resulted in a scuffle.

As per details, at least 17 fire tenders took part in putting out the fire in the market that has more than 500 shops.