Pakistan economic crisis: The International Monetary Fund (IMF) mission led by Nathan Porter began talks with the Government of Pakistan, represented by Finance Minister Ishaq Dar, on 31 January for the ninth review of the aid package.
Pakistan is facing an unprecedented economic crisis as the country's rupee has been recorded at a historic low of 275 against the US dollar, inflation has soared to over 27 per cent and foreign exchange reserves are the lowest since 1998 at around USD 3 billion. has fallen to the lowest level which is not sufficient. Cover one month's imports.
Its friends in the Islamic world now recognize that it has to put its house in order and not support radical Islamic groups to operate from its territory, global strategic experts said, according to news agency PTI.
He also said that the Pakistani 'Deep State' does not know how to handle or control the Frankenstein it created in the form of the terrorist group Tehreek-e-Taliban Pakistan (TTP).
The Pakistan government's talks with the International Monetary Fund (IMF) to unlock USD 1.1 billion have not yielded a positive result yet.
Pakistan's former ambassador to the US and senior fellow at the Hudson Institute, Hussain Haqqani, was quoted as saying by PTI, "Terrorism has deterred foreign direct investment in Pakistan and its unrealistic dependence on China has resulted in huge foreign debt."
"Poor relations with neighbors - Afghanistan and India - have limited trade prospects. Pakistan needs to move beyond the political economy of conflict to become prosperous, and that is a long way off," he said.
Speaking to PTI, former Indian Army Chief General (Retd) JJ Singh said that it seems that Pakistan has already pressed the button for the self-detonation.
He said that the situation is slowly going out of control and the world does not know who is really speaking in Pakistan.
According to the former Indian Army chief, this is a cause for concern for everyone, with the nuclear weapons state in a situation where it appears to have a serious leadership problem.
Former Indian High Commissioner to Pakistan G Parthasarathy suggested that Pakistan should move away from promoting terrorism and focus on constructive economic cooperation if it wants to put a full stop to the crisis.
"Inflation in Pakistan is going through the roof and the current collapse of the country's economy is attributed to corruption by successive governments. There is no accountability, our ruling elite is not interested in Pakistan," a successful Pakistani American businessman Sajid Tarar told PTI.
The International Monetary Fund (IMF) mission led by Nathan Porter began talks with the Government of Pakistan, represented by Finance Minister Ishaq Dar, on 31 January for the ninth review of the aid package. However, no deal has been announced yet.
No comments:
Post a Comment