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.
Food crisis: Wheat scorched due to scorching heat, this time lowest production in 20 years
Amid skyrocketing inflation, the scorching heat has given a big blow to the wheat production front. This year the country has witnessed the lowest wheat production in 20 years. Punjab, Haryana, and
PM Modi shaped the global agenda through foreign visits, deepened relations with partner countries
The Central Government informed the Rajya Sabha on Thursday that a little over Rs 239 crore has been spent on Prime Minister Narendra Modi's foreign visits during the last five years. Minister of
Heavy Rain in Delhi-Noida: Roads flooded due to rain, and heavy traffic jams on many routes; These pictures of Delhi-NCR will surprise you
Heavy Rain in Delhi- Heavy rain in NCR caused heavy waterlogging on the roads. Due to heavy waterlogging on many routes, people's vehicles also got submerged in water.
Bigg Boss 19 Elimination: This week will have the most shocking elimination, will this strong contestant say goodbye to the show?
This season of Bigg Boss 19 is quite interesting, because this time different types of contestants have come in the show. While Gaurav Khanna, Ashnoor Kaur are well-known TV stars, many contestants,
Terrorist attack in Kabul: Two blasts near Gurdwara Kart-e-Parwan, Muslim guard killed; Fear of being trapped inside Sikh Sangat
There has been a terrorist attack on Gurdwara Karta Parwan in Kabul, the capital of Afghanistan. The sound of two bomb blasts was heard here at around 6 am. After the blast, a black cloud of smoke
Weather News: There will be no relief from the cold in these states including Delhi-UP and Punjab, read the forecast for the next 5 days
All the states of North India including Delhi, Uttar Pradesh, and Punjab are yet to get relief from the cold. According to the Indian Meteorological Department, the cold wave may continue for five
'Attack on democracy,' director Vivek Agnihotri's wife lashes out over The Bengal Files controversy
Director Vivek Agnihotri, who created a stir at the box office with the film The Kashmir Files, is now coming up with the film The Bengal Files, which was being discussed for a long time. But at the
Manish Sisodia's CBI remand ends, produced in court today: He can be sent to judicial custody, the decision on bail on March 10
The CBI will present Manish Sisodia, arrested in the Delhi Liquor Policy case, in Delhi's Rouse Avenue Court today i.e. on March 6. From here he can be sent to judicial custody. On March 4, the court
Covid-19: Are lockdown like situations happening again? Increasing cases of FLiRT variant scare, be careful
Cases of coronavirus infection are being seen increasing once again in many countries. There has been a huge surge in infection cases in many
CM Yogi: 'The same thing is happening in Bangladesh today as happened in 1947', CM Yogi said - Hindus there are pleading for their lives
In a tribute meeting organized on the occasion of Partition Horrors Remembrance Day in Hazratganj, Lucknow, UP Chief Minister Yogi Adityanath said that what happened in 1947 is happening in Pakistan
