Pakistan, which is facing a financial crisis, may have a situation like Sri Lanka. Pakistan's Finance Minister Miftah Ismail has warned that the coming days are going to be bad for the cash-strapped country. He said the government would continue to control imports for the next three months. Shahbaz Sharif's government has blamed the previous Imran Khan government for the current situation in the country.
The Pakistani Finance Minister said- 'We are on the right track, but we can see bad days. If we control our imports for three months, we can boost our exports in many ways. The present government has to save the country from possible defaults and take immediate short-term measures. No country can grow more stable with such a current account deficit.
The country's budget deficit reached $ 3500 million
At an event in the Pakistan stock market, Ismail said that the government of Prime Minister Shahbaz Sharif is bearing the brunt of the economic policies of the previous Imran Khan government. Ismail was quoted by Geo TV as saying, 'The budget deficit of the country was $1,600 billion during the tenure of the Pakistan Muslim League-Nawaz (PML-N) government. In the last four years, this figure has increased to $ 3500 million under the government of Pakistan Tehreek-e-Insaf (PTI). If the current account deficit is so high, no country can grow, nor can there be stability.
Imports of $ 80 billion, exports of only $ 31 billion
Ismail said, 'I will not allow increasing imports for three months and in the meantime, we will bring the policy. Growth will be affected to some extent but there is no other option. In the last financial year, Pakistan imported $80 billion while exports amounted to $31 billion. Let us tell you that Pakistan is pleading for a loan from the International Monetary Fund (IMF) but till now it has not got relief.
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