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Pakistan is on the threshold of bankruptcy because the country’s economic situation faces a terrible future without direct positive view despite the ongoing negotiations between Islamabad and International Monetary Funds (IMF) to continue the Bailout package of USD 6 billion from the IMF.
Pakistan Rupee (PKR) is in ‘Free Fall’ because it crosses 212 per USD on June 21. While Pakistani foreign exchange reserves have thinned to the critical level and the country has an import cover of less than six weeks ..
Depreciation in the PKR value came when Pakistan fought with the widening of the current balance deficit, coupled with the NSE -1.11.11 % state bank from Pakistani reserves (SBP) which hit their lowest level since November 2019.
Adding more problems to the Pakistani economy and its population, the government The coalition led by Shehbaz Sharif recently raised the price of fuel, the third time in the past month, to meet the ‘requirements’ of the IMF to revive Bailo ..
This has reached a very large general population because there are reports on taxi services, restaurants, and home delivery after this new fuel increase.
The price of gasoline in Pakistan has been raised by 56 percent or PKR 84 (current price: PKR 233 per liter) and high -speed diesel prices have increased by 83 percent (current price: PKR 263 per liter since May 26, put further pressure on common people.
