Public markets in Pakistan remained closed on Saturday as retail associations went on strike to protest against steep electricity prices and high inflation. This strike comes as the country tries to navigate its way to economic recovery. Pakistan narrowly avoided a sovereign debt default by securing a $3 billion loan programme from the International Monetary Fund (IMF) in July. However, the reforms tied to the bailout have resulted in an annual inflation rate of 27.4%.
Ashraf Bhatti, president of the All Pakistan Traders Association, explained, “Today, traders are observing a shutter down strike across Pakistan against the overcharging electricity tariff and unjustified taxes.”
The main markets in Lahore and Karachi – the two largest cities in Pakistan – were closed on Saturday, although grocery shops and medical stores in densely populated areas remained open. In Quetta, the capital of Balochistan province, public markets were shuttered all day due to a protest organized by Jamaat-e-Islami, an opposition party, and supported by traders’ groups.
Abdul Rehim Kakar, the leader of a traders’ association in Balochistan, emphasized, “It is a matter of concern for the whole country as the common man is being severely affected.”
Protests have erupted sporadically in recent weeks due to worsening economic conditions and mounting political tension ahead of the scheduled national election in November, which is likely to be delayed.
Reported by Mubasher Bukhari in Lahore, Saleem Ahmed in Quetta, Mushtaq Ali in Peshawar, and Akhtar Soomro in Karachi; written by Gibran Peshimam; edited by Helen Popper.
Credit: The Star : News Feed
