Pakistan is currently surrounded by a deep economic crisis. The country's foreign exchange reserves have remained at less than three billion US dollars. Inflation is skyrocketing. The people of the country are demanding the rulers sitting in power cut down on extra expenditure. Meanwhile, the government has decided to cut the salaries of ministers. Apart from this, ministers will no longer be able to travel by air in business class and stay in expensive five-star hotels.
Pakistan is struggling hard to get US$ 6.5 billion in aid from the International Monetary Fund (IMF). Recently the IMF team reached Pakistan. He had nine rounds of talks with the government, but could not agree on a bailout package. After this, the IMF team went back. Since then talks are being held between the officials of the IMF and the Government of Pakistan in the virtual meeting itself.
The government is now cutting down on additional expenses. This is the need of the hour, said Pakistan Prime Minister Shehbaz Sharif after the cabinet meeting in Islamabad. Self-restraint, simplicity, and sacrifice are the need of the hour, he said.
The world's fifth most populous country has reached the brink of bankruptcy. According to an estimate, the USD 350 billion countries with foreign exchange reserves of just USD 3 billion are facing a dollar shortage. According to Bloomberg Economics, supply disruptions due to floods, food shortages, and steps taken by the government to meet IMF conditions have pushed inflation above a record 30 percent for the first time.
Common people are taking to the streets to protest against the dire conditions. The government is trying to show that additional spending (austerity) is happening at a higher level. Sharif said that besides several federal and state ministers, high-ranking government officials have voluntarily decided to forgo pay and allowances. The government has also banned the purchase of luxury items and cars till next year.
Also Read: Pakistan Crisis: Crisis in Pakistan, new concerns arise due to constitutional conflict
On March 19, the death anniversary of the late Punjabi singer Sidhu Moosewala was organized in Ma
Every day new things are coming to the fore in the dispute between PCS officer Jyoti Maurya and h
On February 5, 2026, renowned actor and comedian Rajpal Yadav surrendered at Delhi's Tihar Jail i
UK PM in India: PM Modi and Starmer to meet today; will discuss bilateral issues and Vision 2035
Starmer, who is on his first visit to India since assuming office as Prime Minister, will meet wi
Recently, Iran attacked Israel with missiles and drones. Now news has come that Israel
The Indian team is currently busy preparing for the Champions Trophy tournament starting on Febru
A heated debate has erupted between Bollywood actor Harshvardhan Rane and his Sanam Teri Kasam co
In Bihar, the effort of opposition unity started against Prime Minister Narendra Modi in May-June
'If we are attacked, Pakistan will launch a nuclear attack on Israel', Iran's big claim amid tension
The tension between Iran and Israel is continuously increasing. Both countries are firing missile
These days, Lok Sabha elections are going on in the country and political parties calcu
