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P
akistan finds itself in a financial mess primarily due to the government’s reluctance to carry out structural economic reforms and curb wasteful expenditure. It is now out with a begging bowl beseeching the US and International Monetary Fund for a bailout package as it is unable to pay its international debts.
Pakistan is seeking US intervention for IMF lending terms to be made easier. With inflation at 25 percent and one dollar being equal to 225 Pakistani rupees and tough IMF conditions could make it worse for people across the border. Pakistan’s instalment of funding is held up since September 2022 as the IMF is reviewing if the terms of loan
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Pakistan finds itself in a financial mess primarily due to the govt’s reluctance to carry out structural economic reforms and curb wasteful expenditure. It is now out with a begging bowl beseeching the US and IMF for a bailout package as it is unable to pay its international debts agreement had been met. The severity of the problem gets accentuated by the looming general elections later this year. Shehbaz Sharif has promised harsh measures to revive the economy which may backfire for him and his government in the elections. Some of the measures are up- ward revision of the price of electricity and natural gas, paying 15 percent less salary to MPs, doing away with discretionary spending by MPs and intelligence agencies, ban on purchase of luxury vehicles and foreign travel. These measures, if implemented, could mean a vote against the government. Cutting discretionary funds of intelligence agencies will have a different repercussion for which the Sharif government may not be prepared. The medicine is bitter and the dosage large, but to get out of the morass Pakistan has no alternative as given its precarious situation it can’t even dream of a misadventure against India. If it reins in the fundamentalists India too can help.
Industrial development of Phaltan and Satara district as a whole will be emphasized and the pace of sustainable development will increase, western Maharashtra will be connected with Konkan region and transportation will be convenient for fishing and sugar industries.#PragatiKaHighway #GatiShakti
