Pakistan’s Economy In Serious Crisis!

Web Desk — Pakistan’s economic crisis is worsening every day as electricity will become more expensive and there will be hardly any gas available for household and industry, said renowned finacial and economic expert Ateeq ur Rehman.

According to Ateeq ur Rehman revolving debt of gas sector has reached to almost Rs 700 billion and circular debt of electricity sector has reached to almost 2.5 trillion rupees.

The trade deficit is likely to be US 45 billion dollars and current account deficit is likely to be US 15 billion dollars, Ateeq added.

Ateeq in his analysis published in Business Recorder, warned the increasing inflation was also uncontrollable and stood at 18.34 percent and due to which prices of grocery and essential goods were increasing.

He mentioned that the government was advised to ban import of luxurious items, confectionary items, cars, mobile phones, makeup kits, and reduce the already increased interest rates.