Nationwide Traders' Strike in Pakistan Targets Inflation and Utility Bills

Market traders in Pakistan went on strike, causing public markets across the country to remain closed, in protest against rising electricity prices and high inflation. The strike was called by retail associations and joined by the opposition party Jamaat-e-Islami. The $3 billion loan program approved by the IMF in July helped avert a sovereign debt default but has led to reforms that have fueled annual inflation at 27.4%. The worsening economic conditions and political tension ahead of the scheduled national election have triggered sporadic protests in recent weeks.