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Millions of Pakistanis nationwide have been forced to settle for less as the celebrate the blessed Eid al-Fitr due to deteriorating economy. Top retailers have confirmed to reporters that sales witness sharp decline in comparison to previous years in the run up to Eid al-Fitr.<\/p>\n\n\n\n
Pakistan, bordering biggest world economies namely China and India, is said to have less than a month’s worth of foreign exchange reserves as it faces an unprecedented economic collapse in the recent history. <\/p>\n\n\n\n
A $ 1.1 billion bailout package is on hold since November of the last year due to Islamabad’s lack of seriousness dealing with its fiscal policy adjustments required as a prerequisite by the International Monetary Fund (IMF) for the bailout to be released.<\/p>\n\n\n\n
Reuters quoted Tariq Mehboob, chairman of the Chain Store Association Pakistan (CAP), as saying that, “”There has been a 20 per cent reduction in sales across all categories except women\u2019s clothing.”<\/p>\n\n\n\n
According to statistics, consumer price inflation in Pakistan has risen to a record 35.37 per cent in March from a year before.<\/p>\n\n\n\n
Amid this humanitarian crisis already worsened by last summer’s devastating floods, at least 16 people have been killed in stampedes for food aid during Ramadan.<\/p>\n","protected":false},"excerpt":{"rendered":"
Millions of Pakistanis nationwide have been forced to settle for less as the celebrate the blessed Eid al-Fitr due to deteriorating economy. Top retailers have confirmed to reporters that sales witness sharp decline in comparison to previous years in the run up to Eid al-Fitr. Pakistan, bordering biggest world economies namely China and India, is …<\/p>\n","protected":false},"author":5,"featured_media":92505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_108372464460192_245495985553329":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[31,13],"tags":[4356,1858],"class_list":["post-92504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-pakistan","tag-pakistan-economic-crisis","tag-poverty"],"yoast_head":"\n