Pakistan shopkeepers strike nationwide over inflation
Thousands of Pakistan traders shuttered their shops on Saturday, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections.
Decades of mismanagement and instability have hobbled Pakistan's economy, and this summer Islamabad was forced into a deal with the International Monetary Fund (IMF) to avert default.
However, the global lender demanded that popular subsidies cushioning living costs be slashed. Petrol and electricity prices have rocketed.
There were widespread market closures on Saturday in Lahore, Karachi and Peshawar, where abandoned bazaars were posted with placards decrying "the unreasonable increase in electricity bills and taxes".
Traders wield immense power in Pakistan, and with an election due in the coming months the government faces the delicate task of keeping them onside while sticking to IMF austerity measures.
Pakistan has historically been hamstrung by chronically low tax takings -- including from traders -- which have seen it accrue huge foreign debts it struggles to pay down.
The IMF hopes to end a cycle of bailouts which have propped up the economy for decades.
(Source: AFP)
New Delhi chokes under toxic smog as air quality remains at hazardous levels
Hundreds in Rio de Janeiro rally to slam countries sending money, bombs to Israel
COP29: Iran calls on international community to lift sanctions
How US abuses its UN veto power to enable Israel’s genocidal war on Gaza
Iran refutes US, UK accusations over Ukraine war, West Asia conflicts
Pakistani town erupts in protest after terrorists kill scores of Shia Muslims
US senator threatens ICC with military action over Netanyahu sentence
Iran: ICC indictment of Netanyahu should have included 'genocide'
VIDEO | IAEA anti-Iran resolution
Iran urges pope to help end Israeli onslaught in Gaza
VIDEO | ICC's warrant against Netanyahu
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
