The latest tranche is the third and final part of the $3 billion 'stand-by' arrangement between Pakistan and the IMF which is crucial for the country to counter the rising inflation and debt. The cash-strapped country is reeling under high inflation and debt and is heavily reliant on such packages.
Pakistan has been reeling under massive economic woes, with the inflation rate hitting a peak of 38 per cent. This has affected the shopping for Ramadan, where people complain of difficulties in purchasing even simple clothes for their kids.
Despite Pakistan showing improvement in some areas, the IMF predicted that the country's economic growth remains modest and inflation was above target. The IMF Executive Board had approved the $3 billion Stand-By Arrangement (SBA) for the cash-strapped Pakistan last year.
Zardari's decision to forgo his salary while he was in office was to encourage prudent financial management in the country, said his Secretariat in a statement. In a similar move, newly sworn-in Interior Minister Mohsin Naqvi also decided against drawing a salary while in office.
"Prime Minister Shehbaz Sharif will not make any difference. The condition of the people is deteriorating day by day and their problems will not be solved by this election. This is the continuity of the same status quo which has prevailed in the country from the beginning," said a local resident.
Pakistan's caretaker Finance Minister Shamshad Akhtar outlined key aspects of the IMF agreement, affirming the government’s commitment to regular tariff adjustments, including a planned gas price hike in January to prevent the accumulation of circular debt in both the gas and power sectors.
The locals who stopped the convoy of Sharif allegedly broke the windshield of his vehicle and charged him for the pathetic situation in the country. The protestors outburst his tenure, raised slogans against his "corrupt" governance and accused him of letting the country plunge into crisis.
According to Pakistani English Daily, the prices of kerosene would also get costlier by about Rs10 per litre.
When PM Modi decides something, it affects the entire international politics, but what has Modi decided for Pakistan that the people of Pakistan are keeping their eyes on Modi keeping aside Shehbaz, Maryam and Imran.
Interestingly, discussions between Islamabad and the IMF stalled in December after the global lender delayed the release of a crucial tranche of $1.1 billion from the bailout
Surprisingly, debt is consuming an ever-greater amount of the tax revenue needed to keep schools open, provide electricity and pay for food and fuel.
Khan was taken to the garrison city of Rawalpindi, near Islamabad, for questioning at the offices of the National Accountability Bureau. However, the reason did not calm down Khan's staunch supporters from ravaging the country and public properties.
In four industrial sectors of Karachi and the countrywide auto vending units, stakeholders claimed that “over 5,00,000 people have faced joblessness.”
Prime Minister Shehbaz Sharif issued a rain alert, asking disaster management authorities to remain vigilant to ensure the safety of the people.
The "patch-up" between the two warring parties was broken by Jamaat-e-Islam (JI) chief Sirajul Haq, who held separate meetings with Sharif and PTI chief Khan on Saturday.
Although his Russia tour was the first visit by a Pakistani premier to Moscow in the past 23 years, Khan could not broker any deal that could give relief to the cash-strapped country.
Despite this, the World Bank report said India was one of the fastest-growing economies in the world despite significant challenges remaining in the global environment.
According to a report by Pakistani English Daily, the incident happened when the family members of a private firm gathered to collect free flour on Friday. Notably, this is the second such incident within a week.
Notably, the Biden administration hosted the Summit virtually today but did not send invitations to China and Turkey-- two of its closest allies.
Today those who spread terror are craving for every grain. The people of Pakistan are asking for flour and when flour arrives in the city, there is loot. See in this report
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