This story is from February 14, 2023
'Two-nation theory': Videos and photos of long queues outside Tim Hortons in ‘bankrupt’ Pakistan go viral
DISCLAIMER: This is a compilation of tweets being shared by netizens around the world. Times of India neither condones nor endorses any of the views shared in this article here.
Pakistanis are queuing for hours to grab coffee and pastries from Canadian chain Tim Hortons, which opened its first outlet in the South Asian country this week just as its economic crisis took a turn for the worse.
Tim Hortons broke the world record for highest sales in its 61-year history with the opening of Pakistan’s first outlet in Lahore. The South Asian nation managed to smash a global record with the highest opening sales in the history of the brand that opened in 1964. Not only in the brand's history but with 5352 outlets all around the world, the Pakistani franchise left behind everyone.
Pakistan is on the verge of bankruptcy as the country’s inflation rises to a 45-year high. Inflation in January spiked to 27% year-on-year, the highest in more than a decade, and the government only has enough foreign reserves to pay for just over three weeks of imports.
The people barely have money to pay for basic ration but a majority of youngsters used their lucre to treat themselves to expensive Tim Hortons’ coffee.
In less than a month, Pakistan's currency has lost more than a quarter of its value against the U.S. dollar, and fuel prices have risen by almost a fifth as the government implemented fiscal measures that are prerequisite to unlocking funds from an International Monetary Fund (IMF) bailout.
Last week, last-ditch negotiations between Pakistan and the IMF failed to unlock $1.1 billion in crucial funds that would have gone a long way in preventing the cash-strapped country from going bankrupt and defaulting on external loan repayments.
All that hasn't stopped scores of Pakistanis from thronging to the cafe since it opened on Saturday at an upmarket Lahore shopping mall.
Pictures and videos of long queues of coffee enthusiasts at Tim Hortons’ first outlet in Pakistan went viral on social media and Tim Hortons became a top trend on Twitter. The extravagance of the poor government and the wealthy elite of the nation has taken the world by surprise.
Memes flew thick and fast over the huge economic disparity in Pakistan.
‘Two-nation theory’
A section of Pakistanis, however, argued that rich people have all the right to enjoy and spend their money the way they want.
Tim Hortons broke the world record for highest sales in its 61-year history with the opening of Pakistan’s first outlet in Lahore. The South Asian nation managed to smash a global record with the highest opening sales in the history of the brand that opened in 1964. Not only in the brand's history but with 5352 outlets all around the world, the Pakistani franchise left behind everyone.
Pakistan is on the verge of bankruptcy as the country’s inflation rises to a 45-year high. Inflation in January spiked to 27% year-on-year, the highest in more than a decade, and the government only has enough foreign reserves to pay for just over three weeks of imports.
The people barely have money to pay for basic ration but a majority of youngsters used their lucre to treat themselves to expensive Tim Hortons’ coffee.
In less than a month, Pakistan's currency has lost more than a quarter of its value against the U.S. dollar, and fuel prices have risen by almost a fifth as the government implemented fiscal measures that are prerequisite to unlocking funds from an International Monetary Fund (IMF) bailout.
Last week, last-ditch negotiations between Pakistan and the IMF failed to unlock $1.1 billion in crucial funds that would have gone a long way in preventing the cash-strapped country from going bankrupt and defaulting on external loan repayments.
All that hasn't stopped scores of Pakistanis from thronging to the cafe since it opened on Saturday at an upmarket Lahore shopping mall.
Memes flew thick and fast over the huge economic disparity in Pakistan.
‘Two-nation theory’
A section of Pakistanis, however, argued that rich people have all the right to enjoy and spend their money the way they want.
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