Consumer spending

Traders in Karachi have expressed that this year has been one of the worst in terms of income generated through Eid shopping. In Pakistan, religious festivals like Eid provide great opportunities for businesses to expand their revenue as more people buy products. But this year, the rising inflation rate has had a negative impact on people’s ability to buy stuff. Reports highlighting the bleak economic situation were published during Ramazan, and a majority of traders expressed that there had been a significant dip in revenue.

While inflation is a global phenomenon, our neighbouring countries – India and Bangladesh – have performed better than us in terms of Eid shopping. It is important for our leaders to understand that every country has focused on strengthening its economy. In Pakistan, successive governments have failed to make the economy strong. People are now feeling the brunt of high inflation, and authorities are unable to provide any relief to them.

Mumraiz Khan

Karachi