Pakistan Economic Crisis: Pakistan, which is struggling with economic crisis and political turmoil, has presented its budget for the new financial year 2023-24. In this budget, a huge amount was arranged for the defense i.e. Pakistan Army, which is 15 percent more than the last time. On the other hand, the Pakistani government is also crying for ‘poverty’. Prime Minister Shehbaz Sharif has said that our country has been ravaged by heavy rains and floods.
Shahbaz Sharif said that Pakistan suffered a loss of $30 billion due to heavy rains and floods. He said that it is difficult to raise such a huge amount to compensate for the loss. According to ARY News, Prime Minister of Pakistan Shehbaz Sharif was addressing the members of the federal cabinet last day, who were called to approve the Finance Bill 2023-24. ARY News is a Pakistani news channel, in whose report it was told that Prime Minister Shahbaz Sharif was also referring to his friendly countries during the meeting.
‘Our government inherited a crippled economy’
According to ARY News, Prime Minister Shehbaz Sharif said during the meeting that our coalition government has inherited a crippled economy. After coming to power, China helped Pakistan to solve financial issues. He said that China, Saudi Arabia and the United Arab Emirates helped Pakistan and assured the International Monetary Fund (IMF) of reviving the stalled loan programme. PM Shehbaz Sharif reiterated that the ninth review with the IMF will be completed during the month of July as he had an hour-long telephonic conversation with the head of the fund.
‘Development is not possible without ending instability’
Commenting on the political instability of Pakistan, Shahbaz Sharif said that economic development is not possible without ending political instability. At the same time, before the presentation of the budget, Shahbaz had called a high-level meeting on budgetary proposals related to energy. That meeting was attended by federal ministers including Pakistan’s Finance Minister Ishaq Dar, Khwaja Muhammad Asif, engineers Khurram Dastgir Khan, and Maryam Aurangzeb and other officials. In it, Shahbaz had said- “I want that despite the economic challenges of Pakistan, special steps should be taken to protect the weaker sections of the society.”
Read also:Poor Pakistan is waiting for help from MF, Shehbaz Sharif appeals again
