The Pakistani rupee depreciated 18.74 points against the dollar on Thursday in the interbank market. Analysts attributed this to the government’s standoff with the International Monetary Fund (IMF). Pakistan’s economy is in a shaky state facing cash crunch. A few weeks back, Pakistan’s foreign exchange reserves fell to the lowest level of $2.9 billion. Its direct impact is on the poor people of Pakistan in the form of inflation.
Imran Khan lashed out at Bajwa
Imran Khan tweeted, “Pakistanis are paying a heavy price for the conspiracy to change regime and the former army chief imposed some criminals on the country.” Khan (70) was ousted from power in April 2022 through a no-confidence motion and since then relations between him and Bajwa have been strained. Khan has earlier alleged that the former army chief wanted to get him killed and impose emergency in the country.
Pakistan pauper, danger or good news for India?
Where is the opposition of Pakistan missing?
The government of Pakistan is continuously proving to be a failure on economic fronts but the opposition is missing. Imran Khan, the biggest leader of the opposition, himself is facing the threat of arrest in the Toshakhana case. Many of his close leaders like Sheikh Rasheed, Azam Swati, Fawad Chaudhary have gone to jail. At present there is no one to raise the voice of the public. On the other hand, the Shahbaz government is accepting its harsh conditions to get loan from IMF, in which tax boost and subsidy reduction are the main ones for additional revenue.
(with agency inputs)