Pakistan’s economic situation has always been bad, but according to the situation in which it has reached now, it would be fine to change the name of the country to Kangalistan. Sometimes Saudi is asking for its money from the debt-ridden Pakistan and then UAE. To repay a loan, he has to take a second loan. The situation has become so bad that Imran Khan, who came to power with the promise of creating a ‘new Pakistan’, has confessed that the country is no longer in a position to take any more loan.
After increasing the price of petrol products in Pakistan, Imran Khan has said that the burden of increasing oil prices was passed on to the customers to successfully save the country from further debt burden. In an interview given to a central television, the country cannot take more loans to keep petroleum prices low.
Decreasing price of Pakistani rupee
Imran Khan also admitted that during his tenure, the value of the Pakistani agency has come down drastically. Imran Khan said that the fall in the value of the rupee has smelled petrol products, pulses, ghee and other items imported. “The value of the dollar has increased from Rs 107 to Rs 160 in the current government, this has also led to a spurt in homes,” said Imran. ”
Conflict everywhere due to debt
Pakistan is facing repeated internal conflicts due to debt. Recently one of his aircraft on lease in Malaysia has been taken away due to non-payment of rent. Recently, Saudi Arabia demanded his loan back and had to repay it by borrowing from China. Now the UAE is also asking to repay the loan early.
Pakistan is unable to buy vaccine
Pakistan’s condition is so bad that it is unable to buy the corona vaccine to save the lives of the people. He is waiting for a free vaccine for 20 per population under the Kovacs program, so in the meantime he also spread his hand in front of China, but the dragon also did not miss his chance of insult and only paid 5 lakh doses.
Why is there a debt on Pakistan?
Imran Khan came to power with the promise of changing the fate of Pakistan but he only increased the burden of debt on the forehead of the country. The Pakistani government, led by Imran Khan, took a loan of Rs 7.5 lakh crore between the first year of its tenure (August 2018-August 2019), setting a record in taking loans. According to the State Bank of Pakistan, as of June 2019, Pakistan’s total foreign debt was 31.786 trillion Pakistani rupees. According to a report in June 2020, Pakistan’s total foreign debt has increased to 106.8 percent of its GDP.