As Pakistan gears up for the Eid-ul-Fitr holiday, a major concern looms over the shopping landscape — the impact of high inflation. Rising prices of essential commodities and goods have hit consumers hard, putting a damper on the traditional Eid shopping spree. The recent surge in inflation has left many Pakistanis grappling with budget constraints. Instead of shopping in a carefree manner, families are seen anxiously calculating their expenses as they prepare for the festivities.
The prices of food items, clothing and accessories, which are an integral part of Eid celebrations, have soared, leaving consumers feeling the pinch. Families that used to eagerly plan and budget for Eid shopping are now faced with tough choices. One of the most affected segments of society is the middle class which forms a significant chunk of the Pakistani population. With stagnant salaries and limited purchasing power, families are finding it increasingly challenging to make ends meet, let alone indulge in lavish Eid shopping. Many are forced to cut down on their usual spending, dampening the spirit of the festive holiday. Small businesses, especially those in the clothing and accessories sector, are also grappling with the effects of inflation. Higher production costs and increased prices of raw materials have reduced their profit margins, making it difficult for them to offer affordable products to consumers. The Eid holidays are an important time for businesses to generate revenue and boost economic activity. However, with inflation eroding purchasing power, it can lead to reduced spending, lower demand, and, ultimately, economic slowdown.
It is high time for the government and policymakers to take urgent measures to tackle rising prices, stabilise the economy and provide relief to the masses. Eid, a time of joy, celebration and togetherness, should not be marred by the burden of inflation.
Published in The Express Tribune, April 19th, 2023.
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