Pakistan Economic: The neighboring country Pakistan is facing its worst economic crisis. One after the other, a mountain of troubles is falling on the wretched Pakistan. Inflation and unemployment are increasing in Pakistan. People are getting dependent on every grain. Standing on the threshold of poverty, Pakistan is drowned in debt. There is a fight for flour and pulses. Things are becoming war like for cooking gas, electricity, water, petrol and bread.
Pakistan is in danger of becoming a defaulter. The Wazir-e-Azam of the country Shehbaz Sharif also does not know when the country will become bankrupt. People are leaving the country scared of the deteriorating situation. This is considered to be the worst phase of Pakistan since independence.
The country’s foreign exchange reserves have come down to $4.1 billion. Which is less than the total wealth of any big noble of India. The inflation rate has reached 24.5 percent. Things are so bad that ships laden with goods are docked at ports, but buyers do not have dollars to pay. As a result of which the supply chain has started stalling in the country.
Things like Sri Lanka
Pakistan’s foreign exchange reserves have been a guest for a few days now, and it is not even getting loans. The Pakistani rupee had closed at Rs 230 per dollar on Wednesday. Which fell to Rs 255 within a few hours after the market opened on Thursday. The situation in Pakistan is similar to the coup in Sri Lanka.
The situation in Sri Lanka had worsened when the price of 1 dollar had become about 270 Sri Lankan Rupees. At present, industries are shutting down in Pakistan, 70 lakh people have become unemployed, people are rapidly migrating from the country, doctors and engineers are leaving the country. Institutions like World Bank, IMF are also not helping Pakistan. If no country gives loan or help to Pakistan soon, then Pakistan may go bankrupt by May.
water and petrol crisis
Flour, pulses, rice, chicken are going away from the reach of poor people in Pakistan. There has been such a scramble for cheap government flour, which has never been seen before in Pakistan. Amidst shortage of flour, electricity and sinking economy, the crisis of water and petrol is also increasing in Pakistan. According to reports, this crisis has deepened in Sindh, Punjab and Balochistan.
Only 25 percent of the people of Balochistan are getting clean drinking water. People in Punjab are facing water scarcity up to 75 per cent. It is feared that Pakistan may slowly move towards starvation and civil war like Sri Lanka.
Bread has no place, treasury opened on MPs!
Instead of getting the public out of this crisis, the Government of Pakistan is increasing the budget of the MPs. The public does not have food and the government is spending money to increase the budget of MPs. Preparations are also being made to spend big on the renovation of judges’ houses. The money with which roti-flour could have been bought, is being spent carelessly by the Shahbaz government on polishing the houses of the judges. The government has increased the MP fund by 30 percent. The budget of MPs has been increased to Rs 90 billion.
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