Monday, September 25, 2023
  • About Us
  • Contact Us
  • Privacy Policy
  • Disclaimer
Burj News
  • Home
  • Latest
  • World
    • Asia
    • Europe
    • Africa
    • America
  • Pakistan
    • National
  • News
  • Politics
  • Business
  • Sports
    • Cricket
  • Entertainment
  • Blogs
    • Culture
    • Opinion
    • Lifestyle
  • Urdu
No Result
View All Result
Burj News
  • Home
  • Latest
  • World
    • Asia
    • Europe
    • Africa
    • America
  • Pakistan
    • National
  • News
  • Politics
  • Business
  • Sports
    • Cricket
  • Entertainment
  • Blogs
    • Culture
    • Opinion
    • Lifestyle
  • Urdu
No Result
View All Result
Burj News
No Result
View All Result
Home National

Inflation will raise to 70 Percent if Pakistan Default says Ex-Finance Minister Hafiz Pasha

Web Desk by Web Desk
January 20, 2023
in National, Pakistan
0
Inflation will raise to 70 Percent if Pakistan Default says Ex-Finance Minister Hafiz Pasha

Inflation will raise to 70 Percent if Pakistan Default says Ex-Finance Minister Hafiz Pasha

495
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Former Finance Minister Hafiz Pasha claims that The inflation rate in Pakistan could hit 70 percent if the South Asian economy defaults.

While addressing members of the Pakistan Industrial and Traders Associations Front (PIAF) Ex-Finance Minister Hafiz Pasha said that with the chances of default, Pakistan’s inflation rate could reach 70 percent. Even if the International Monetary Fund (IMF) loan is reinstated, inflation will still reach 35 percent due to the lender’s stringent conditions.

Related posts

GC Omar Mustafa from PMA 149 Long Course Embraced Shahadat during Military Training

Gentleman Cadet Omar Mustafa from PMA 149 Long Course Embraced Shahadat during Military Training

June 24, 2023
Passing out parade of 119th Midshipmen & 27th Short Service Course held at Naval Academy, Karachi

Passing out parade of 119th Midshipmen & 27th Short Service Course held at Naval Academy, Karachi

June 24, 2023

Also Read : Mini-Budget includes some Tough measures – Finance Minister Ishaq Dar

Ex-Finance Minister explained that if the government adopts key reforms agreed upon with the IMF, such as the fuel levy of Rs. 50 per liter, a 40 percent hike in electricity tariffs, a double gas tariff, and a shift to a market-based exchange rate policy, inflation could exceed 35 percent. If the government fails to implement the agreed-upon reforms, he warned that Pakistan will be out of the IMF program which would effectively dry up the country’s capital.

Former Finance Minister Pasha also predicted that Pakistan’s economy will remain in severe economic conditions in 2023. He said Pakistan’s dependence is on costly foreign loans.  The country’s debt in the first 65 years was $65 billion, which has now increased to nearly $130 billion over the next seven years after Pakistan increased reliance on high-interest, difficult-to-repay loans, he added.

Remember here one thing, Pakistan is passing through a severe crisis including Economic and Political. The State Bank of Pakistan also issues Alarming Situation for the Country as foreign reserves fell to 4.5 Billion Dollars.

According to sources, the State Bank of Pakistan’s foreign exchange reserves fell to $4.5 billion after the new debt repayments to UAE Banks. Pakistan paid back 600 Million Dollars to the Emirates NBD Bank and 415 Million Dollars to the Dubai Islamic Bank.

After the fresh debt repayments, the forex reserve dropped to 4.5 Billion Dollars, sufficient for only 25 days of import cover.

Read More : Alarming Situation for Country as State Bank Reserve fell to 4.5 Billion Dollars

Tags: burj newsfinance ministerHafiz PashaImran khanIshaq Darpdm govermentPML-NpmshahbazsharifPTI
Previous Post

Famous Sports & Clothing Brand Adidas hires12 year Pakistani Tennis Star Haniya Minhas as their Brand Ambassador

Next Post

Election Commission De-notifies 35 more MNAs of PTI as Speaker NA today accepted their Resignations

Next Post
Election Commission De-notifies 35 more MNAs of PTI as Speaker NA today accepted their Resignations

Election Commission De-notifies 35 more MNAs of PTI as Speaker NA today accepted their Resignations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Protest Break out in Iran over suspected Poison attacks on school girls

Protest Break out in Iran over suspected Poison attacks on school girls

7 months ago
All-rounder Shahdab Khan is my Favorite Player in Cricket - COAS General Bajwa

All-rounder Shahdab Khan is my Favorite Player in Cricket – COAS General Bajwa

10 months ago
Saudi Embassy issues alert for its Staff in Pakistan aimed Terror attacks

Saudi Embassy issues alert for its Staff in Pakistan aimed Terror attacks

9 months ago
Court Rejects Election Commission Plea for Early hearing in Toshakhana case

Court Rejects Election Commission Plea for Early hearing in Toshakhana case

6 months ago

BROWSE BY CATEGORIES

  • America
  • Asia
  • Blogs
  • Business
  • Cricket
  • Culture
  • Education
  • Entertainment
  • Europe
  • Health
  • Latest
  • Lifestyle
  • National
  • News
  • Opinion
  • Pakistan
  • Politics
  • Science
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • Weather
  • World

POPULAR NEWS

  • Cristiano Ronaldo's Children beaten by School Mates in Saudi Arabia

    Cristiano Ronaldo’s Children beaten by School Mates in Saudi Arabia

    12020 shares
    Share 4808 Tweet 3005
  • Dani Daniels respond to Twitter after Bazid Khan mistakenly called her during the live cricket match

    1643 shares
    Share 657 Tweet 411
  • Punjab Government likely to extend School’s winter vacations for one more week

    797 shares
    Share 319 Tweet 199
  • Actor Feroze Khan files Defamation case against ten leading celebrities of Pakistan

    754 shares
    Share 302 Tweet 189
  • Actress Sajal Aly responds to Social media rumors alleged by Maj (r) Adil Raja

    634 shares
    Share 254 Tweet 159
Logo-2

Burj News is the 21st Century Most Popular Internet News , Which Provide you the Most Authentic and Viral And Reliable News.

Follow us on social media:

Recent News

  • Met department issued Alert amid Pre-monsoon Rains
  • Gentleman Cadet Omar Mustafa from PMA 149 Long Course Embraced Shahadat during Military Training
  • Russian President Putin vows to take strict action against ‘Armed mutiny’ after Wagner Group launches Rebels

Category

  • America
  • Asia
  • Blogs
  • Business
  • Cricket
  • Culture
  • Education
  • Entertainment
  • Europe
  • Health
  • Latest
  • Lifestyle
  • National
  • News
  • Opinion
  • Pakistan
  • Politics
  • Science
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • Weather
  • World

Contact

Office 4026
182-184 High Street North
East Ham , London , UK

Phone: +447418 344879

Office No 27 Satellite Town Quetta,
Quetta, Balochistan, Pakistan
Phone: 0812441251

Email: info@burjnews.com

  • About Us
  • Corrections Policy
  • People
  • Ethics Policy
  • Fact-Checking Policy
  • Ownership & Funding Info

© 2022 Burj News - All Right Reserved

No Result
View All Result
  • Home
  • Latest
  • World
    • Asia
    • Europe
    • Africa
    • America
  • Pakistan
    • National
  • News
  • Politics
  • Business
  • Sports
    • Cricket
  • Entertainment
  • Blogs
    • Culture
    • Opinion
    • Lifestyle
  • Urdu

© 2022 Burj News - All Right Reserved