Inflation in Pakistan is on its seventh sky. The prices of all the essential things have gone beyond the reach of the people. The risk of bankruptcy on that is constantly increasing.
Pakistan Hit Record Inflation: Inflation in Pakistan is constantly breaking all records. Situations like civil war are also increasing. Essential things have gone out of reach of the people. Meanwhile, the latest figures of inflation have exposed the economy of Pakistan. The inflation rate in the neighboring country has reached 37.97 percent. Pakistan is one of the countries in Asia with the highest inflation rate. Pakistan’s last hope is from IMF only.
Is Pakistan going to go bankrupt?
The bankruptcy crisis facing Pakistan is increasing day by day. The economy is continuously deteriorating due to foreign debt figures. Pakistan’s foreign exchange reserves have reached the lowest level ever. Talking about statistics, the inflation rate of Pakistan had reached 38 percent in the month of May. In Pakistan, the prices of milk to vegetables, flour, oil and other essential things are on the seventh sky.
The situation is such that after Pakistan, funds have started falling short even to pay the salaries of the employees. Government expenditure is being continuously cut. The worsening situation after the arrest of Imran Khan has added to the trouble. On the other hand, if we talk about India, the inflation rate in India under PM Narendra Modi’s government is 4.7 percent, which is the lowest since October 2021, while food inflation is only 3.8 percent. In terms of GDP, India’s position is better than many big countries.
Help sought from IMF
Pakistan needs help from IMF itself. Many times he has extended his hand in front of the IMF but conditions have been imposed for help from the IMF. IFF has made it clear that no help will be given to Pakistan unless it fulfills the conditions. Pakistan believes that if the economic situation worsens due to the absence of the IMF board meeting this month, financial assistance can be received from China.