Pakistan Economy Crisis: For the last few months, Pakistan is going through a period of political crisis. In such a situation, the danger of being a defaulter is constantly hovering over Pakistan. On Friday, Pakistan Prime Minister Shehbaz Sharif expressed hope that the International Monetary Fund (IMF) would resume the $6.7 billion bailout package, Dawn reported.
He claimed that despite economic difficulties, Pakistan has already fulfilled all the pre-conditions set by the global lender. This statement of the PM came after Finance Minister Ishaq Dar presented a budget of 14 trillion Pakistani rupees for the financial year 2023-24. The government has claimed that it has shared this budget with the IMF.
Pakistan will get relief soon: PM
In such a situation, the PM of Pakistan hopes that the country’s budget can have an IMF, which will provide more relief money for Pakistan, which is facing cash crunch. Addressing the federal cabinet of the Pakistan Democratic Movement (PDM) coalition government, the PM said that the ninth review would be completed soon.
Pakistan broken due to flood
During his address, Shahbaz Sharif said that the country’s economy has suffered a loss of more than $30 billion due to the devastating floods caused by climate change. Along with this, he said that the Ukraine crisis has also increased the prices of commodities in the international market, which has affected Pakistan.
Referring to political instability, he said that the strong economic growth of a country is linked to its political stability. He further said that the government is aware of the problems being faced by the common man due to inflation. He further said, ‘We have to take care of the salaried class as well as the pensioners so that they can meet their basic needs.’
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