Pakistan is going to collapse. Pakistan has become the largest defaulter in the world. If the loan is not repaid, the interest must be paid back. But Pakistan has not done that either. Now comes the news of the poor man who is a shameless neighbor.
A report from Islamabad-based think tank Tabadlab a grim picture of Pakistan’s economic health, describing the country’s debt burden as a “monstrous fire” and described by the International Monetary Fund as too critical to manage. As debt burdens reach alarming heights, Pakistan faces the dire possibility of an “inevitable default,” a catastrophic economic collapse. Even the bread is eaten by the people.
Oil prices close to Rs.300. Those prodigal sons, who were torn apart after exercising their muscles, are now longing to see India’s Narendra Modi Bharat, India’s unity and free rations. Due to the global food shortage and economic crisis, people in Pakistan have reduced their food intake. One main dish and one curry per person should be served at party and restaurant. Minister Ahsan Iqbal issued a strict directive that people should avoid drinking tea or reduce it as much as possible.
Meanwhile, the power shortage has worsened in Pakistan. Power cuts for at least 12 hours. The price of a unit of electricity has gone up sharply to Rs.24. Pakistan has become another Sri Lanka or worse. Even the Islamic countries are ready to help this terrorist state, which is the world capital of terrorism. Pakistan has also announced restrictions on imported food products.
Imports of non-essential luxury goods were curtailed in Karachi last month due to lack of funds. Pakistan has appealed to other countries to help them in the face of decline. Expensive cloths were banned in many places. Due to lack of foreign exchange and lack of dollar reserves, Pakistan has banned imports of many goods. Even the minister is now saying that if people stop drinking tea because they are importing tea, the country will save a little. Pakistan is the country that imports the most tea in the world. Last year tea worth 600 million dollars was imported. It is not even possible to think of buying tea with a loan. So people should refrain from drinking tea. Minister Ahsan Iqbal said
The World Bank estimates that poverty in Pakistan has increased from 4.4 percent to 5.4 percent. More than two million people are below the poverty line. This is the estimate for 2020. Now when a new report comes out that the people are starving and in darkness, those who have money have to live in a poor environment. No matter how much money one has, one can only eat one dish at the hotel and at the wedding feast. Reduced power consumption. Even tea is said to be avoided. That means even those who have money have now become starving in Pakistan. Pakistan’s poverty ratio has now skyrocketed from 39.3 percent in 2020-21. According to the bank, 40 percent of households in Pakistan are now insecure
The uncertainty has already had a negative impact on the country’s stock market. Prime Ministerial hopeful Shehbaz Sharif stressed the urgency of securing a fresh IMF bailout to avert the crisis. Pakistan’s per capita debt increased by 36% from $823 in 2011 to $1,122 in 2023. During the same period, Pakistan’s per capita GDP decreased by 6% from $1,295 in 2011 to $1,223 in 2023.
