The State Bank of Pakistan has banned the issuance of letters of credit for imports. Apart from this, Pakistan has also stopped giving money to foreign airlines. Toyota and Suzuki company have stopped their production due to import restrictions.
Poverty is getting deeper in Pakistan.
suffering from poverty Pakistan Going into the dark now. food first, then petrol And after gas, now the power crisis has deepened in the country. The condition is that sometimes in the name of disturbance in the lines, sometimes due to some other excuse, more and more cuts are being made. In addition to Pakistan export And imports have also reached the verge of closure. The shipping agents of Pakistan have announced that foreign companies are planning to stop imports from Pakistan, if this happens the situation will get worse.
Power crisis is getting deeper in Pakistan. According to ‘Duniya News’, there is no electricity in about 22 districts including Balochistan Karachi for the last several hours. It is being claimed that light is not coming due to a technical fault in the transmission lines, but the people of Pakistan are looking at it from a different point of view.
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Most trouble in Sindh-Punjab
Sindh, Punjab and Khyber Pakhtunkhwa have the worst power crisis. The situation is such that on Monday, the Lahore Orange Line Metro train suddenly stopped in the middle of the way. Due to this, the people riding in the metro had to face trouble. Power cut was said to be the reason for stopping the way between the metro. According to the metro management, it has not been told till when the electricity will come, so that the services can be made smooth.
What are the reasons for power crisis
The biggest reason for the deepening power crisis in Pakistan is the low power generation. According to media reports, Pakistan is currently generating 24,000 MW of electricity, while the demand for electricity is 30,000 MW. Apart from this, Pakistan is generating electricity from natural gas and oil, at present there is neither gas nor oil stock in front of Pakistan. Apart from this, due to the continuous decrease in foreign exchange reserves, the crisis of imports is also deepening.
That’s why import crisis deepened
Pakistan’s foreign exchange reserves are continuously falling. Due to this import is being affected. Currently Pakistan’s foreign exchange reserves are $4.3 billion, out of which $3 billion is the amount deposited by Saudi Arabia. That is, Pakistan’s real foreign exchange reserve is only one billion dollars. This is the reason why the State Bank of Pakistan has banned the issue of letter for import. Apart from this, Pakistan also stopped giving money to foreign airlines, while they have made 225 million dollars on Pakistan. Toyota and Suzuki company have stopped their production due to import restrictions.
pakistani rupee falling continuously
Another reason for the decrease in imports in Pakistan is the continuous fall of the Pakistani rupee. Currently, the value of Pakistani rupee against 1 dollar is 229 rupees. In 2019, the price of Pakistani rupee was 155 against one dollar. Which became 160 in 2020 and reached 178 in 2021. In 2022, the price of Pakistani rupee had reached 209 against one dollar. If compared to 2022, the Pakistani rupee has fallen by almost 20% in the last six months.
IMF went to Pakistan for the 24th time
Pakistan’s foreign exchange reserves are continuously falling, there is a shortage of flour, pulses and rice. The neighboring country is constantly seeking a relief package from the International Monetary Fund (IMF). According to media reports, till now Pakistan has taken help from IMF 23 times. This time for the 24th time, Pakistan is looking towards the IMF for help.
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