MUNSHIGANJ: At least 16 shops were gutted as a fire broke out at Srinagar Bazaar under Srinagar upazila of the district yesterday noon, reports BSS. Fire brigade sources said the fire originated from a cotton shop of the Bazaar and soon engulfed the adjacent shops. Being informed, fire fighters from Srinagar Fire Station rushed to the spot and extinguished the blaze after one hour frantic effort. No actual financial losses were so far known although shop owners claimed that the loss may surpass Taka one crore.