Foreign Minister Bilawal Bhutto Zardari on Wednesday demanded the international organizations and the International Monetary Fund (IMF) not to burden the people of the flood-affected country with inflation.
Islamabad began its formal talks with international lenders last month to discuss a rescue plan that includes a $1.1 billion debt repayment tranche from a $6.5 billion bailout package. , which was designed to avoid Pakistan’s economic downturn in 2019.
The government has already hiked the prices of petroleum products to meet the demand for a much-needed loan from the IMF, which will push inflation to already record highs and prices of electricity, gas and other commodities. will increase which are in the pipeline. .
The bailout package is critical for the nation of 220 million as the State Bank of Pakistan’s foreign exchange reserves are at a critical level of nearly $3 billion for the week ending January 27, less than a month. enough to meet the imports of .
