ISLAMABAD – Subway, an American food chain, has announced another addition to its menu, a three-inch sandwich in Pakistan as purchasing power of people in the South Asian country has shrunk due to unbridled inflation.
It is for the first time that Subway has launched a “mini sub” globally as it’s menu includes 6-inch and 12-inch sandwiches.
Subway launched a three-inch sandwich in Pakistan, the first time the fast-food chain has launched a mini version globally.
The bite-size sandwich was advertised by the food chain on its social media handles last month for Rs360.
A spokesperson of the company told Bloomberg that the new offering provides value to Pakistani customers.
To deal with spiraling prices, many restaurants in the South Asian country have jacked up the price or shrunk quantities.
Pakistan witnessed massive inflation over several months amid depleting foreign exchange reserves and rupee deprecation that further intensified the situation. The inflation rate is still in double digit, shrinking the purchasing power of people.
Pakistan was saved from default earlier this year by the PDM-led government after it managed to secure $3 billion bailout package from the International Monetary Fund (IMF) at the eleventh hour.
However, the loan dead has come with strings attached as the global lender had put forth several conditions, including hike in fuel and energy prices. The exorbitant electricity bills had sparked protests across the country with people demanding the government reverse imposition of additional taxes.
Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).
In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.
Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.
UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.
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