
Pakistan markets bustle with shoppers for Eid final preparations
KARACHI/LAHORE: Pakistani Muslims on this week crowded the night markets soon after 'iftar' (breaking of fast at sunset) in the final week of Ramadan as they geared up in preparation for Eid-Al-Fitr celebrations.
Markets in the biggest city Karachi and the second largest city Lahore were bustling with activity as the holy month of Ramadan neared the end ahead of the Muslim festival of Eid.
For Pakistan the festival will fall on either Monday (March 31) or Tuesday (April 1), depending on the sighting of the moon.
Shoppers browsed through glittery sandals, bangles, and new clothes hoping to find special items for the festival.
'Shopping is really an enjoyment in last days [of Ramadan]. The bazar is very lively during the last days of Ramadan, which is fun to watch,' said housewife Subia Arshad in Karachi.
Although inflation has eased recently, some shoppers complained of price increases compared to regular days.
Prices generally rise in Ramadan and ahead of Eid in Pakistan.
'Items that cost 600 ($2.14), 700 rupees ($2.50) normally, they are selling it for two thousand rupees ($7.14),' said housewife Mrs. Irfan in Lahore.
Pakistan's annual inflation rate slowed to 1.5 percent in February, the lowest in nearly a decade and below the finance ministry's estimates, according to early March data from the statistics bureau.
Inflation has cooled significantly, easing from 23.1 percent in February 2024.
The South Asian country, currently bolstered by a $7 billion facility from the International Monetary Fund (IMF) granted in September, is navigating an economic recovery.
Pakistan government has announced Eid Al-Fitr holidays from Monday (March 31) to Wednesday (April 2).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Saudi Gazette
3 hours ago
- Saudi Gazette
Al-Falih: Saudi Arabia is keen on supporting Syrian economy's stability
Saudi Gazette report RIYADH — Minister of Investment Eng. Khalid Al-Falih emphasized Saudi Arabia's commitment to supporting the stability and development of the Syrian economy. He also underlined the need to serve common interests and enhance regional economic prosperity. Al-Falih made the remarks during a meeting with the Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar, via videoconference, on Sunday. He emphasized the importance of creating an environment for expanding regional investment partnerships. The ministers discussed prospects for investment cooperation between the two countries and reviewed the promising economic opportunities in the Syrian market. Their meeting addressed potential areas of public-private partnership and ways to enhance qualitative investments in the production and service sectors, contributing to supporting economic development and opening new channels for integration between the two countries.


Arab News
5 hours ago
- Arab News
Pakistan to unveil Economic Survey 2024-25 on Monday
ISLAMABAD: Pakistan will unveil its Economic Survey 2024-25 tomorrow, Monday, and detail major socio-economic achievements of the outgoing fiscal year, Pakistani state media reported. The survey will include details about performance and economic trends of various sectors, including agriculture, industry, services, energy, information technology and telecommunications, capital markets, health, education and transport. Annual trends of major economic indicators regarding inflation, trade and payments, public debt, population, employment, climate change, and social protection will also be part of the survey. 'Finance Minister Muhammad Aurangzeb will release the Economic Survey-2024-25 at a ceremony to be held in Islamabad,' the Radio Pakistan broadcaster reported. The survey will be followed by the presentation of the national budget. The earlier dates for the announcement of Economic Survey 2024-25 and federal Budget 2025-26 were June 1 and June 2, respectively, but the government extended the dates to June 6 and June 7. Pakistan is currently bolstered by a $7 billion International Monetary Fund (IMF) program and is navigating a long path to economic recovery. The country's annual inflation rate rose to 3.5 percent in May, though its macroeconomic outlook has improved in recent months, supported by a stronger current account balance and increased remittances. The Pakistani government says it remains committed to maintaining macroeconomic stability, accelerating structural reforms, and ensuring that economic growth translates into real and inclusive progress for all citizens. Earlier this month, Planning Minister Ahsan Iqbal announced the government has allocated Rs1 trillion ($3.5 billion) for development projects in the upcoming budget for fiscal year 2025-26.


Asharq Al-Awsat
3 days ago
- Asharq Al-Awsat
IMF Sees 'Some Progress' on Lebanon Reforms, But Says External Support Needed
Lebanon has made progress on reforms needed to revive its economy but still has key steps to take and will need external funding on concessional terms, the International Monetary Fund (IMF) said on Thursday after a week of meetings in Beirut. Lebanon's economy went into a tailspin in late 2019, prompted by decades of profligate spending by the country's ruling elite. Reforms required to access IMF funding were repeatedly derailed by political and private interests, according to Reuters. Lebanon's President Joseph Aoun and Prime Minister Nawaf Salam, both of whom took office in early 2025, pledged to prioritize reforms and secure an IMF financing agreement - but the country now faces additional needs with the widespread destruction and displacement caused by Israel's military campaign last year. 'The authorities have made some progress recently, including the amendment of the Bank Secrecy Law and submission of a new bank resolution law to Parliament,' the IMF's Lebanon mission chief Ramirez Rigo said in a written statement. Rigo added that his mission held 'productive discussions' with Lebanese officials, including on restoring the viability of the banking sector, fiscal and debt sustainability and enhancing anti-money laundering and terrorism financing measures. He said Lebanon's medium-term fiscal framework should support the restructuring of Eurobond debts, which Lebanon defaulted on in 2020, leading to a sovereign default on its $31 billion of outstanding international bonds. 'Given Lebanon's substantial reconstruction needs, limited fiscal space and lack of capacity to borrow, the country will require significant support from external partners on highly concessional terms,' the IMF statement said. The World Bank estimated Lebanon's recovery and reconstruction needs following Israel's military campaign at $11 billion. But the US has said it opposes any reconstruction funds to Lebanon until Hezbollah - the Iran-backed Lebanese armed group that fought Israel last year - is disarmed.