Pakistan, trapped in the quagmire of debt, is rapidly moving towards bankruptcy. Foreign reserves have reached single digits. On May 27, the foreign reserves were reduced to just $ 9.72 billion. The bigger problem is that the International Monetary Fund, ie IMF, has not yet given the green signal to the third tranche of the loan. Friends countries have done the right thing. UAE, Saudi Arabia, and China want the IMF to approve Pakistan's debt first, then they will be able to help.
Reality exposed by a new report
According to a report on the 'Bloomberg website - the rulers of Pakistan seem helpless in terms of handling the economy. His last hope is the IMF. The problem is that till now even the IMF has not given the green signal to the loan.
According to the report, the report of the Central Bank of Pakistan was released on May 27 and it has been told that the total foreign reserve is only $ 9.72 billion left. In a week it decreased by 3.6 crores. The special thing is that now a week has passed and the IMF has not released the installment. Therefore, it can be assumed that the figure of $ 9.72 billion would have come down even further.
treasury halved after august
After August, foreign reserves have almost halved. Now the situation is such that the Pakistan government can only afford the import bill for four weeks. The Shahbaz Sharif government with a coalition of 13 parties got power by removing Imran Khan, but Khan spread the net for him as he went and he is getting caught in it. While leaving, Imran reduced the fuel rates by Rs 10 per liter. In 6 days, the Sharif government had to increase the rate by Rs 60 per liter. Electricity was made costlier by Rs 8 per unit. The import of 30 luxury items including expensive cars was banned. Despite these arrangements, foreign reserves are getting exhausted.
What do experts say
Rafael Mok, Asia Head of Economy Survey Agency 'Fitch Solution' says – The steps taken by the Sharif government are like cumin in the mouth of a camel. First of all, tax collection has to be improved. After that, the subsidy will have to be abolished. Tax collection cannot improve unless the government and all the responses do not come together.
Friends' terms are too dangerous
On Thursday, the news came that China is going to give a loan of $ 2.3 billion. In no time it became clear that it would be a foreign deposit, not a loan. Just like Saudi Arabia gave 2.5 billion dollars last year and it is still with Pakistan. The condition with this is that the Saudi government can withdraw this money on 48 hours' notice. Secondly, the Government of Pakistan cannot spend this money. Hence it is just a deposit given to maintain credit.
ICC T20I Rankings: Suryakumar Yadav remains at No. 2, Shreyas Iyer takes a long jump
Indian batsman Suryakumar Yadav is ranked second in the latest ICC Men's T20I rankings while Shreyas Iyer has made a big jump to break into the top-20. In the latest ICC T20I rankings released on
Cricketer Deepti Sharma coach on run-out controversy: England had something to say on the 3-0 loss, so they made it an excuse
Controversy has arisen over the Indian cricket team's all-rounder Deepti Sharma's run-out to English batsman Charlie. Some are telling it against the spirit of the game, while some are telling run out
Former Japan PM Shinzo Abe dies 6 hours after the attack; shot in rally
Former Japanese PM Shinzo Abe has died. During a rally in Nara town this morning, the assailant attacked him and fired two bullets at him. He was then admitted to the hospital, where his condition
International Yoga Day: Delhi was filled with yoga, from duty post to Red Fort... people did yoga.
Today the 10th World Yoga Day is being celebrated all over the world. Yoga programs are being organized at different places across the country. Yoga Day started all over the world in 2015. Yoga is an
From a replica of the Ram temple to Madhubani art, what did PM Modi gift during his visit to five countries
Prime Minister Narendra Modi presented precious gifts related to India's cultural heritage to the heads of countries he met during his recent five-nation visit. These gifts not only reflect India's
Bigg Boss 17: Munawar Faruqui nominated in the very first week, know who is safe, on whom the sword of elimination hangs
Finally, the most explosive talked about and popular reality show in the television industry 'Bigg Boss 17' has started. The show had its grand premiere on 15 October. Salman Khan gave a grand welcome
OROP: Payment of arrears to eligible pensioners of armed forces by March 15, Supreme Court gave important instructions
In the One Rank One Pension case, the Supreme Court has directed the Central Government to pay dues to all eligible pensioners of security forces by March 15. The Supreme Court has also given an
Karnataka Election 2023: Former Deputy CM Laxman Savadi joins Congress, left BJP after being denied ticket
Many parties have announced their candidates for the assembly elections in Karnataka. After the announcement of the names of the candidates, there has been a stampede at the parties. Many leaders are
America gave visas to 36% more Indians this year: Said- India is the top priority for us, now visas of IT professionals will be renewed in the US
India is the number-1 one priority of the US in terms of getting an American visa. According to US visa officials, post-Covid visas are being processed 36% faster across the country. India is their
Kangana Ranaut Slapped: Family in support of Kulwinder Kaur, brother Sher Singh told the inside story of the slapping incident
Kulwinder Kaur, the CISF female constable who came into the news after slapping Bollywood Queen and newly elected BJP MP from Mandi, Himachal Pradesh, Kangana Ranaut at Chandigarh airport, is the
