The only hope is to get a loan from the IMF

Islamabad. Pakistan is facing the worst economic crisis ever and it is believed that it is impossible to recover from it. Experts say that this is the biggest economic crisis since its formation in 1947 and it may have to go through great difficulty. There is news that Pakistan took a loan from the International Monetary Fund 14 times, but could not fully repay it even once. This time, before giving the loan, the IMF delegation has visited and assessed the country’s financial system.

There are now serious questions on the capacity and capability of the Government of Pakistan. The financial system of the country has completely collapsed. All the departments of the government are running in huge losses and no relief is visible from anywhere. The political crisis has also deepened here. The ruling coalition led by PM Shahbaz Sharif is nervous and has delayed the implementation of economic measures. Unemployment and inflation have reached the peak in the country. Fuel and power crisis is affecting the common life.

Pakistan is also not able to buy from foreign market. Its foreign exchange reserves have reached the brink of bankruptcy. Now his hope rests on getting loan from IMF. Pakistan Prime Minister Shehbaz Sharif had said that the ruling PDM coalition was ready to sacrifice his ‘political career’ for the country. The businessmen of Pakistan have also given an ultimatum to the Government of Pakistan. Pakistan’s Markazi Tanjim Tajiran (Central Association of Traders) said that they would start agitation from 13 February if new taxes are imposed as per IMF’s request.