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.
Vivo X90 Pro: Vivo's new flagship phone launched with 120W fast charging and a powerful camera, know the price
Smartphone brand Vivo has launched its new flagship smartphone series Vivo X90 Series. This series has been introduced in the global market. Vivo X90 and Vivo X90 Pro have been launched under the Vivo
IRCTC Luggage Rule: If you also carry more luggage than the prescribed rules on the train, then know how much fine can be imposed
IRCTC Luggage Rule: Traveling by train is considered to be almost the most simple and economical. People use trains to travel from one city to another every day. Traveling by train becomes easy
Indian Railways: Before traveling in the train on Diwali, know these rules, breaking can lead to jail
The five-day-long Deepotsav is going to start in the country on October 22. In such a situation, the crowd of people has increased at the railway stations these days. But if you are going to travel
Not a single death from Corona after 32 months: After April 2020, 625 new patients were found in the last 24 hours
For the first time after 30 March 2020, not a single death was recorded from Corona in the country. The Union Health Ministry said on Tuesday that a total of 625 new corona patients were found in the
Saudi-China did not give a new loan to PAK: both countries together had promised $13 billion, IMF also stopped the installment
Two alleged close friends of Pakistan seem to be turning away from it in difficult times. Pakistan currently has foreign reserves of only $6.7 billion. Due to this, imports can be done only for three
Five deserving no place in Team India: Shami, Samson, and Ishaan out in Asia Cup, a chance for flopping passion
Team India has been announced for the Asia Cup. The tournament is considered important in terms of preparation for the T20 World Cup. In such a situation, all eyes were on the team selection. Avesh
Russia Ukraine War: Ukrainian military warehouse destroyed in a Russian drone attack, Ukrainians fear the result of the referendum
On the night of Sunday-Monday, the Russian army again launched a vigorous attack in Ukraine. In the port city of Odessa, several drones hit targets during the night. The ammunition warehouse of the
Prithvi Shaw Selfie Row: Problems may increase for cricketer Prithvi Shaw, Sapna Gill lodges complaint
A Mumbai court on Monday granted bail to Sapna Gill and three other accused in the case of allegedly manhandling Indian cricketer Prithvi Shaw and attacking his car with a baseball bat. Following
Pant vs Dhoni: The story of his disciple is completely opposite to Dhoni, Rishabh Pant is laggy in terms of review
A five-match T20 series is being played between India and South Africa. The South African team has taken a 2-1 lead over India. Team India is being captained by Rishabh Pant. However, his captaincy
Don't read Quran on my death, celebrate: The last message of an anti-hijab activist before sentence in Iran, publicly hanged
In Iran, a 23-year-old boy opposing the hijab was publicly hanged. The matter is of December 12, but now a video related to it has surfaced. The video is before the boy was hanged. In this, he is