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Pakistan Economic Condition: The Shehbaz Sharif government of the neighboring country Pakistan, which is facing dire cash crunch, has now started inflicting new oppression on the countrymen daily. The government has now made preparations to put a new burden on Pakistanis who are already suffering from skyrocketing inflation, electricity-water, LPG gas, petrol, food grains and medicine crisis.
According to a report in Pakistan’s The Express Tribune, the Economic Coordination Committee (ECC) of the Shehbaz Sharif cabinet is soon going to approve hike in prices of 150 medicines. A day before, Finance Minister Ishaq Dar has announced to collect tax of Rs 170 billion from Pakistanis within four months.
The Finance Minister announced the new tax soon after the IMF team returned and no decision was taken on releasing loan installments by the IMF. Earlier, for ten days the IMF team was negotiating with the Pakistani side on the economic draft for bailout package on the request of Prime Minister Sharif.
Forced to accept all the recommendations of the International Monetary Fund, Pakistan has also decided to increase electricity rates. Even before this, electricity rates have been increased in Pakistan last month.
Pakistan became part of the IMF’s $6 billion program in 2019 during the Imran Khan government, which was increased to $7 billion last year. The ninth review of the program to release $1.18 billion was underway between IMF officials and the Government of Pakistan, which has failed.
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