DNA Exclusive: Pakistan Struggles to Secure IMF Bailout Package Amid Economic Crisis

In today's DNA, Zee News' Rohit Ranjan will analyse Pakistan's crumbling economy and how things may get worse before the sight of any improvement.

Pic Credit: File Photo

New Delhi: Pakistan seems to be heading toward financial ruin as it struggles to chalk out the details to secure a bailout package from the IMF. Fuel prices and flour prices are skyrocketing in the country, making it unaffordable to survive in the country. The Pakistan Finance Minister had announced earlier that they would be collecting an additional tax of Rs 17,000 crore from citizens. Taxes on cold drinks, air travel, and cigarettes among other things will be increased.

If Pakistan accepts IMF's conditions, the budget for Pakistan will be created by IMF.

DNA Live: पाकिस्तान आवाम पर 'टैक्स टेरर' के 'सीरियल ब्लास्ट'!#DNA #PakistanCrisis #Pakistan #PakistanEconomicCrisis @irohitr pic.twitter.com/aS5dqNTmLJ — Zee News (@ZeeNews) February 16, 2023

In today's DNA, Zee News' Rohit Ranjan will analyse the crumbling state of Pakistan's economy and how things may get even worse before any improvement. Pakistan is in a difficult position as it has to repay all its loans and at the same time, its credit rating has decreased which means it can't possibly take new loans. Another setback is that Pakistan is heavily dependent on imports for most of its supplies and hasn't developed much on domestic production.

Since Pakistan's rupee is falling against the dollar, it is becoming expensive for Pakistan to import goods.

Pakistan's future is quite uncertain now.

Pakistan's foreign exchange reserves are alarmingly low and if the situation continues it may end up exhausting those as well. In comparison, India's foreign reserves are close to 575 billion dollars which is 200 times more than Pakistan's.