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Pakistan at the edge of being ‘pauper’

Thursday - June 14, 2018 11:43 am , Category : WTN SPECIAL

Result of promoting terrorism, Pakistan’s economic condition becomes ‘poorest’
 
JUNE 14 (WTN) - India's neighboring country Pakistan's economic condition has become very ‘poor’. Pakistan's economic condition has worsened so much that Pakistan has come to the verge of being ‘poverty-stricken’. Pakistan's economic condition being worsens day by day, that the Pakistani rupee has been priced at Rs.122 against one US dollar.

While India is one of the 10 largest economies in the world, India's neighboring country, Pakistan's economy is on the ‘poorest condition’. If Pakistan is compared to India, then it appears in a very bad situation. The Indian rupee has a cost of around 67 rupees compared to one dollar, i.e. half of Indian rupee is equal to the Pakistani one rupee.

For your information, let us know that there is general election in Pakistan next month; country's economic condition can be a major issue in the election. It is said that after the election, Pakistan can crave loans from International Monetary Fund. Pakistan may soon face balance of payments problem.

According to the information, Pakistan will have to pay the difference of $ 25 billion of its trade deficit through its own reserves and there is no option other than this to Pakistan. According to a recent report, Pakistan now has foreign exchange reserves of $ 10.3 billion, which was $ 16.4 billion in May last year.

According to information from sources, Pakistan's debt from China and its banks in this financial year is on the verge of reaching around $ 5 billion. Pakistan is going to take a new loan of $ 1-2 billion from China due to the payment crisis. Pakistan's economic condition has become so poor that it has become quite self-reliant on China for its economy. It is believed that if Pakistan does not improve its economic condition soon and get no financial help from China then no one can stop Pakistan becoming as ‘pauper’.

Pakistan, which encourages terrorism in India, has a big misunderstanding and it should understand that by way of terror, it can’t harm India's strong economy. Pakistan should look after its poor citizens first and its economy. If Pakistan does not do that, then that day is not far when Pakistan has to declare itself as ‘pauper’.
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