Islamabad: Report that oil reserves are decreasing in Pakistan. Also, according to The Print report, most of the petroleum purchased by Pakistan is exported to Afghanistan.
Economists pointed out that this crisis is the result of bad foreign policies adopted by the country in the midst of internal problems and economic crisis. At a time when the Ukraine conflict has also affected economies around the world, Pakistan has faced a huge loss in fuel oil imports.
And unlike Saudi Arabia, India and Turkey, Pakistan has not been able to get concessions from the US-led alliance, which is engaged in a shadow war with Russia. These are countries that operate solely on the basis of their own foreign policy, despite US laws such as Countering American Adversaries Through Sanctions (CAATSA).
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Pakistan is also an energy importing country with a large population. Today, Pakistan is more dependent on the Gulf countries than Iran, which is leading in oil production. Experts say this may be due to the emphasis on the Sunni Gulf countries.
Although they share a border with each other, there has been no significant change in the relations between Pakistan and Iran so far. Experts observe that Iran still remains a concern for Pakistan.
At the same time, Pakistan Foreign Minister Bilawal Bhutto Zardari recently visited Iran as part of making changes in the relations between the two countries. During this visit, the two countries discussed issues related to the functioning of border food markets and barter trade.
The prices of daily use items in the country have also skyrocketed. Islamabad is negotiating with the International Monetary Fund for more funds. In Pakistan, where the economic crisis is worsening, reports have come out that the health sector is also facing severe setbacks. Pakistan’s foreign exchange reserves have recorded a huge decline. Reports also say that this has severely affected the import of essential medicines. Also, the figures coming out now indicate that the country does not have enough foreign exchange reserves to import materials required for domestic drug production.
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