Monday, September 25, 2023

Pakistan inflation rate | Introductory price for Subway Mini Sandwich | Subway launches mini sandwich for the first time, food inflation here reaches 38.5%

American fast food chain Subway has launched a three-inch sandwich in Pakistan, which is struggling with inflation. For the first time, this fast food chain has launched a mini version of the sandwich worldwide. The price is 360 Pakistani rupees.

Subway usually sells 6-inch and 12-inch sandwiches, but considering the purchasing power of people in Pakistan, the company has also introduced mini sandwiches in the menu. To cope with rising prices, many restaurants in Pakistan have increased prices or reduced quantities.

Food inflation reached 38.5%
Inflation in Pakistan has reached double digits. In August, the inflation rate here was 27.38% on an annual basis. In Pakistan, food inflation has reached 38.5% due to increase in food prices. A year ago, in August, it was 6.2%.

People took to the streets against rising inflation
Most recently, people in Pakistan took to the streets against rising inflation and electricity bills. Traders had closed shops across the country in Lahore, Karachi and Peshawar. When caretaker Prime Minister Anwar Ul Haq Kakar was asked a question about rising inflation, he said that people need to pay the bills. Other than that, they have no other choice.

Supporters of Jamaat-e-Islami party join the traders’ strike in Hyderabad, Pakistan.

Traders said, “How do I pay a lakh rent and a lakh electricity bill?”
Fahad Ahmed, a businessman from Karachi, told the AP: “We have kept our shops closed so that our message reaches the country’s ruling class.” If they don’t understand our problems, we have to use other methods.

Ahmed said, “I will pay a rent of one lakh rupees and the electricity bill will also remain the same. How will I survive?” According to data released by the Pakistani government, inflation there reached 27.4% by the end of August. The price of a liter of petrol has reached 300 Pakistani rupees.

Due to closed shops, a street vendor is seen lying and resting on the street in Peshawar, Pakistan.

Due to protest from traders, locks are hanging on shops in Lahore.

The entire burden of the IMF rules is shifted onto the people
According to Pakistani economist Mohammad Sohail, the country is going through difficult times despite the payment of the loan installment from the IMF. The rules imposed by the IMF in exchange for loans have shifted the entire burden onto the people.

He says inflation is the biggest problem in Pakistan. The reason for this is the continuously falling value of the Pakistani rupee. The price of a Pakistani rupee to a dollar is at its lowest level against the dollar in 76 years. The value of a dollar against the Pakistani rupee is 307 rupees.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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