Pakistan: Pakistan’s game is over! Empty treasury… power failure… serious crisis now amid food shortage
Unemployment explosion: Pakistan, which is facing economic crisis, is facing new problems every day. Bread is disappearing from the plate of common Pakistani due to inflation. The prices of everyday things like flour have skyrocketed, on the other hand, about 30 cities of Pakistan were plunged into darkness due to power crisis. The situation is getting worse day by day. Now the jobs of lakhs of people are in danger.
Every day thousands of people are losing their jobs in Pakistan. According to a report, in 2023 lakhs of Pakistanis will be unemployed. That means the crisis is going to get even more serious.
More than 62 lakh people will be unemployed
According to a report published in Pakistan’s news website ‘The Dawn’, 62 lakh (62 lakh) people may become unemployed in 2023 due to the closure of businesses and reduced production in factories. This figure is 8.5 percent of the total workforce in Pakistan. These are the people who want to work but there is no employment for them.
Due to the possibility of serious unemployment, the Pakistan government is expecting an early relief package from the International Monetary Fund (IMF). In such a situation, the government cannot take the risk of postponing the mini budget. It is also being said that unemployment in Pakistan will increase further due to the coming of mini budget.
stagflation will increase
Shahbaz Sharif’s government will increase the prices of gas and electricity in the mini budget. Additional tax on petroleum products and tax on import-export will be increased. Because the government has no other option left. This will lead to ‘stagflation’. Stagflation occurs when the rate of inflation and the rate of unemployment are at their peak.
not enough treasury to import
Pakistan also seems to be moving towards a very bad situation. The inflation rate in Pakistan will reach a new height. Pakistan’s foreign reserves ($4.601 billion as of January 13) are not enough even for one month’s imports. So the government is anyway looking for different ways to borrow from the IMF. its mini Budget The possibilities cannot be denied. If it is introduced then it will increase unemployment in Pakistan. Pakistan’s foreign exchange reserves have fallen to such an extent that a serious crisis has arisen even on the import of essential commodities. Along with everyday goods, the crisis of flour, gas, petrol to medicines has deepened in Pakistan.