Pakistan Economic Crisis: The neighboring country Pakistan is facing the most difficult economic crisis these days. In this connection, Pakistan’s PM Shahbaz Sharif has reached UAE seeking help. Here he can demand financial help citing the deteriorating economic condition of Pakistan.
Pak PM Shahbaz has gone on a two-day UAE tour, he will be there from Thursday (January 12) to Friday (January 13). According to Pakistan’s news agency The Dawn, there he demanded to delay the loan payment of the loan already outstanding on Pakistan, and also sought help from them for giving another billion dollars.
How is the economic condition of Pakistan?
Experts say that from this the sinking economy of Pakistan can be easily guessed. He is not only unable to repay his loan but also needs more help to run his country.
Financial help was also sought from UN countries
Earlier, Pak PM Shahbaz Sharif had gone to Geneva in the past. Here, through the UN, he extended his hand for financial help to other member countries citing their economic condition. He said in the UN that his country was ruined by the floods that came last year. Due to this, his country has gone into economic crisis.
He said that at present inflation is at its peak in Pakistan, due to which neither the people there are getting electricity at night nor many people have money to eat. That’s why Pakistan needs more than $ 16 billion money to get out of debt.
Rupee falls against dollar in Pakistan
The condition of Pakistan is so bad that the foreign exchange reserves of Pakistan are at the lowest level in the last 8 years. He has only money left up to $ 5.6 billion. The cost of one dollar in Pakistan is 227.8 paise.
‘Inflation is at its peak in Pakistan’
In Pakistan, from chicken to milk and from flour to onions, the prices of everything are skyrocketing. Pakistan is surrounded by inflation from all sides. At present, the economic condition of Pakistan, which is facing increasing debt, decreasing foreign exchange reserves, political instability and a huge decline in GDP, is getting worse day by day.
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