Pakistan Economic Crisis: Pakistan is currently facing a severe economic crisis. Pakistan is currently in the poorest condition ever. People are deprived of even basic facilities and services. The prices of essential necessities of the people like wheat flour, pulses and fuel are also going up. In this situation, the question has arisen whether Pakistan will be forced to hold general elections in its country in the coming days. Pakistan Defense Minister Khwaja Asif has answered this question.
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Pakistan Defense Minister Khawaja Asif responded to a question asked at an international press conference, saying, ‘The Ministry of Finance does not have any funds to conduct elections. We have been facing economic crisis since November last year,” he said.
Pakistan is struggling with dwindling foreign exchange reserves
“We are now awaiting a much-needed $1.1 billion loan from a Washington-based global lender. We should have received this amount last year,” he said. ‘We are struggling with a weak local currency and dwindling foreign exchange reserves.’ He also said.
Pakistan has implemented several policy measures to unlock International Monetary Fund (IMF) funding, including increased taxes, increased subsidies, higher energy prices, devaluation of the rupee and the highest interest rate hike in 25 years.
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Government will charge for fuel
Recently Pakistan’s Prime Minister Shahbaz Sharif had announced that the government would take steps to collect more money from consumers for fuel. The money raised will be used to provide subsidized goods to the poor who have been hit hard by inflation. At the same time, Pakistan’s Defense Minister Khwaja Asif took aim at former Pakistan Prime Minister Imran Khan and said his assassination attempt allegations were false.
Khwaja blamed PTI chief Imran Khan for jailing PML-N leaders during his tenure. According to the report, Khwaja Asif said that during his 3-year term, he was jailed and his party leaders also faced court in fake cases.
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