In Pakistan, the prices of everything are touching the sky at this time, whether it is sugar or flour, cotton or vegetables, everything is out of the reach of common man. The tension of the Imran government has increased after the comments made by the experts of the World Bank.
According to experts, Pakistan’s exports will submerge this year.
A few days from now, the holy month of Ramadan will begin. This time again this Ramadan has come under the cover of Corona virus. When the whole world is troubled by Corona, neighboring Pakistan is facing double whammy of inflation. Due to Kovid-19, the economy which had collapsed, inflation has also got hurt. How this time in Ramadan, inflationary citizens in Pakistan are going to get double tension.
World Bank experts intimidate
Despite the efforts of Prime Minister Imran Khan, inflation is not coming under control. Due to this inflation, Imran has removed the undisclosed technocrat doctor Abdul Hafiz Sheikh. He was given additional charge in the Ministry of Finance. Considering the ground reality of Pakistan, he was tasked to advise the government and to give relief to the poor, the government had to give suggestions in that direction also.
In Pakistan, the prices of everything are touching the sky at this time, whether it is sugar or flour, cotton or vegetables, everything is out of the reach of common man. The tension of the Imran government has increased after the comments made by the experts of the World Bank. According to experts, Pakistan’s exports will submerge this year.
Public loan will increase further
Pakistan’s growth rate has been pegged at 1.3 per cent by the World Bank in the current financial year, while public debt will hit a new record. The World Bank estimates that debt will be around 94.4 per cent of GDP. In the year 2018, when Imran’s party Pakistan Tehreek-e-Insaf (PTI) took power, this debt figure was 72.5 percent. At the same time, the fiscal deficit will remain at 8.3 percent.
2 million people became poor
Poverty is also increasing in the country due to Kovid-19. Also, there has been an increase in unemployment. Apart from this, most people have suffered the most, whose real income has come down. These people are suffering the most because no correct solution has been suggested by the government at the moment. The World Bank report estimated that 2 million people in Pakistan have fallen below the international poverty line. For them, they are able to earn up to $ 1.9 a day. At the same time, 40 percent of the families are struggling with severe food security.
Bad condition of electricity sector
According to Pakistan’s economy experts, economic growth in the country is low and inflation is high. Before Imran, when Nawaz Sharif’s party was in government, growth was high and inflation was low at that time. This year, the GDP of Pakistan is expected to increase by 1.3 to 3 percent. Apart from food and drink, electricity prices have also increased sharply. Experts are saying that nothing can happen until the government pays attention to this sector.
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