Islamabad: Pakistan Prime Minister Shahbaz Sharif has presented a bleak picture of the country’s dwindling economy, lamenting that even friendly countries have begun to see Pakistan as a man who was always begging.
“Today when we go to a friendly country or call, they think we’ve arrived [to them] For begging for money,” Dawn news quoted the Prime Minister as saying while addressing a lawyers’ conference on Wednesday.
Gentry He added that even smaller economies have left Pakistan behind, “and we have been wandering around with a begging bowl for the last 75 years”.
According to Sharif, Pakistan’s economy was already facing a “challenging situation” before the floods, which made it more “complicated”.
He said Pakistan was on the verge of an “economic lapse” when he assumed power after the removal of the then prime minister in April. Imran KhanAnd the coalition government had saved the country from default by its hard work.
He said the coalition government led by him “controlled to some extent” the economic instability in the cash-starved country.
Recognizing that inflation was “at its peak” when he took office, the prime minister indirectly blamed the previous Pakistan Tehreek-e-Insaf government for the situation in the country.
Sharif alleged that the previous rulers had violated the agreement with the International Monetary Fund (IMF), forcing the current government to agree to tough terms.
He said the IMF had also threatened to withdraw its program if the agreed conditions were not met.
The IMF on August 29 approved a bailout package for cash-strapped Pakistan, which includes disbursements of about USD 1.18 billion.
The move comes after the IMF completed USD 4 billion in bilateral financing from four friendly countries, including China.
The Prime Minister warned of a possible gas crisis in the coming winter, saying that he was struggling to arrange gas before the arrival of the winter season.
As Dawn reported, he said that the rains and floods have caused unprecedented devastation in the country, adding that such climate-induced devastation has not been seen anywhere in the world.
The cash-strapped country is battling its worst floods in 30 years, killing more than 1,400 people and affecting 33 million people since early June.
One-third of the country is submerged and one in seven people are severely affected by floods, causing an estimated US$12 billion in damages, causing about 78,000 square kilometers (21 million acres) of crops. remained under water.
The UN said that in response to Pakistan’s urgent appeal for flood victims, USD 150 million has been promised so far, but only USD 38 million has been converted into aid.
While many countries have come forward to provide aid to Pakistan in such a crisis, Pakistan and the United Nations launched a flash appeal for USD 160 million in initial funding, of which USD 150 million was pledged. Huh.
UN resident and humanitarian coordinator Julian Harnis The United States said CanadaThe United Kingdom, Japan, Denmark, Australia, Singapore and others were the main donors apart from the United Nations Central Emergency Response Fund, which raised US$10 million.
Meanwhile, the Nepal government on Wednesday sent humanitarian relief material to Pakistan to help the flood-affected people. Nepal Airlines Apart from household items, the chartered flight also had food items, medicines and clothes.
Canada on Wednesday announced an additional USD 2.5 million in humanitarian aid to support Pakistan in this difficult time.
An official statement said the new allocation was in addition to the USD 5 million announced last month and said Canada would continue to provide food, clean water and other essential services through trusted partners.
“Today when we go to a friendly country or call, they think we’ve arrived [to them] For begging for money,” Dawn news quoted the Prime Minister as saying while addressing a lawyers’ conference on Wednesday.
Gentry He added that even smaller economies have left Pakistan behind, “and we have been wandering around with a begging bowl for the last 75 years”.
According to Sharif, Pakistan’s economy was already facing a “challenging situation” before the floods, which made it more “complicated”.
He said Pakistan was on the verge of an “economic lapse” when he assumed power after the removal of the then prime minister in April. Imran KhanAnd the coalition government had saved the country from default by its hard work.
He said the coalition government led by him “controlled to some extent” the economic instability in the cash-starved country.
Recognizing that inflation was “at its peak” when he took office, the prime minister indirectly blamed the previous Pakistan Tehreek-e-Insaf government for the situation in the country.
Sharif alleged that the previous rulers had violated the agreement with the International Monetary Fund (IMF), forcing the current government to agree to tough terms.
He said the IMF had also threatened to withdraw its program if the agreed conditions were not met.
The IMF on August 29 approved a bailout package for cash-strapped Pakistan, which includes disbursements of about USD 1.18 billion.
The move comes after the IMF completed USD 4 billion in bilateral financing from four friendly countries, including China.
The Prime Minister warned of a possible gas crisis in the coming winter, saying that he was struggling to arrange gas before the arrival of the winter season.
As Dawn reported, he said that the rains and floods have caused unprecedented devastation in the country, adding that such climate-induced devastation has not been seen anywhere in the world.
The cash-strapped country is battling its worst floods in 30 years, killing more than 1,400 people and affecting 33 million people since early June.
One-third of the country is submerged and one in seven people are severely affected by floods, causing an estimated US$12 billion in damages, causing about 78,000 square kilometers (21 million acres) of crops. remained under water.
The UN said that in response to Pakistan’s urgent appeal for flood victims, USD 150 million has been promised so far, but only USD 38 million has been converted into aid.
While many countries have come forward to provide aid to Pakistan in such a crisis, Pakistan and the United Nations launched a flash appeal for USD 160 million in initial funding, of which USD 150 million was pledged. Huh.
UN resident and humanitarian coordinator Julian Harnis The United States said CanadaThe United Kingdom, Japan, Denmark, Australia, Singapore and others were the main donors apart from the United Nations Central Emergency Response Fund, which raised US$10 million.
Meanwhile, the Nepal government on Wednesday sent humanitarian relief material to Pakistan to help the flood-affected people. Nepal Airlines Apart from household items, the chartered flight also had food items, medicines and clothes.
Canada on Wednesday announced an additional USD 2.5 million in humanitarian aid to support Pakistan in this difficult time.
An official statement said the new allocation was in addition to the USD 5 million announced last month and said Canada would continue to provide food, clean water and other essential services through trusted partners.