World News | PoGB's Linda Bazaar Struggles to Survive Amid Soaring Inflation, Declining Sales
Get latest articles and stories on World at LatestLY. The market, a popular destination for locals seeking affordable winter clothing, has become eerily deserted, leaving traders and shopkeepers facing an uncertain future
Gilgit [PoGB], November 24 (ANI): Linda Bazaar, once a bustling commercial hub for purchasing affordable winter clothes in Pakistan-occupied Gilgit-Baltistan (PoGB), is now grappling with a severe economic crisis as inflation continues to soar, local media reported.
The market, a popular destination for locals seeking affordable winter clothing, has become eerily deserted, leaving traders and shopkeepers facing an uncertain future. The soaring cost of living due to inflation and tax policies in Pakistan, which have affected essential goods such as food, fuel, and household items, has left residents of PoGB struggling to even afford basic necessities, PoGB-based WTV reported.
Local businesses, largely dependent on small-scale trade, are bearing the brunt of rising prices. Traders say the situation is becoming untenable, with fewer customers visiting the market, leaving shops empty and unsold goods piling up.
One vendor, who has been running a business in the market for over a decade, expressed his frustration, saying, "You can see for yourself there isn't a single customer in the market. No one is buying anything. I have a family to support, and I don't know how I'll manage. It's been over a week without a single person coming to the market."
According to the report he, along with many others, is urging the local administration to intervene and provide assistance before more traders are forced to close their shops. The crisis has hit hard as winter sets in, a season when Linda Bazaar traditionally thrives with increased demand for winter clothing.
However, with rising prices and a dwindling number of customers and tourists, traders fear that the worst is yet to come. Many are struggling to cover their basic expenses, and without immediate relief, the future of small businesses in the area remains in jeopardy.
As inflation continues to ravage the region, the livelihoods of ordinary citizens and the fate of local businesses hang in the balance. Traders are calling for urgent action to address the crisis and restore some semblance of stability to Linda Bazaar. (ANI)
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)