Pakistan traders association announce countrywide strike against inflation
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The traders association has announced plans to stage nationwide protests after Eidul Fitr in response to the escalating inflation and deteriorating economic conditions in Pakistan.
President of Markazi Tanzeem Tajran, Muhammad Kashif Chaudhry, stated during a press conference that if these issues are not resolved, traders across the country will organize conventions and demonstrations.
Chaudhry criticized the government for failing to pass on the benefits of reduced crude oil prices to the public, while simultaneously refusing to reduce its non-development expenses. He also called for an immediate 50% reduction in non-development expenses and urged politicians to agree on a charter of democracy to address the current crisis.
Chaudhry slammed the government's Ramadan relief package, arguing that it is a source of humiliation for the poor, who are forced to wait in long queues for poor-quality flour. He accused parliamentary mafias of being responsible for the flour crisis and expressed concern over FBR raids on points of sale without providing traders with income tax forms in Urdu.
The announcement comes as Pakistan's inflation rate reaches an all-time high, with prices rising by 35.4% from a year earlier, according to the Pakistan Bureau of Statistics. Core inflation, which excludes food and energy prices, has also risen sharply, leading analysts to predict that Pakistan is heading towards hyperinflation.
