The economic crisis in Pakistan

The latest news about the economic crisis in Pakistan the country has reportedly sought the support of the United States in Reviving the international monetary fund program the IMF loan is expected to facilitate a soft Landing for Pakistan's economy which is marred by external challenges  like floods and adverse global economic conditions according to reports Pakistan's Finance Minister Ishaq Dar met a U.S delegation in Islamabad and asked for the help of the U.S to convince the Washington-based multilateral lender to be lenient towards a country in restoring the program the U.S delegation was led by Robert capros who is a deputy assistant Secretary of the U.S Department of Treasury reports said that dhar told the U.S delegation that Pakistan would honor all its International commitments and was in fact in the process of taking a very tough decisions which include increasing the prices of natural gas and electricity to put the country on a path to stability through reform the Finance Minister informed the delegation that Pakistan would require some breathing space as the country still reeling under the aftereffects of devastating floods last year as the economic crisis worsens Islamabad has been making hectic efforts to convince the IMF to complete the review it is pending since September last year and will be followed by the release of funds earlier prime minister Shahbaz Sharif indicated that the government has finally was ready to accept the IMF’s stringent conditions to revive The Loan Program according to reports the IMF wants Pakistan to accept seven demands before it resumes economic assistance to the country the demands include withdrawing electric subsidies linking gas prices to the international market free floating dollars and not blocking letters of credit but reports said the government fears that implementing some of these demands will hike the price of Essentials and that is why the Shahbaz Sharif LED government has been reluctant to withdraw the subsidies that can make it unpopular among the people while the elections are due in October.

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