Bananas are being sold for Rs 500 a dozen in Pakistan during the month of Ramzan.
The effect of economic crisis in Pakistan is now being seen in Ramzan as well. Here the price of a dozen bananas has reached Rs 500. Leave bananas, you will be shocked to hear the price of grapes. According to media reports, grapes are currently being sold at Rs 1600 per kg in Pakistan.
Not only bananas and grapes, the prices of Daily-used products are also skyrocketing. Onion prices have increased by 228.28 percent. The rates of flour are also quite high. Since the economic crisis, till now the price of flour has increased up to 120.66 percent. Diesel prices are also setting fire in Pakistan at this time. At present, 102.84 percent and petrol is being sold expensive by 81.17 percent.
International Monetary Fund Terms
The International Monetary Fund (IMF) has placed several conditions for giving loan to poor Pakistan. Since the beginning of February, discussions are going on between Pakistan and the IMF regarding the release of a loan of $1.1 billion. The fund is part of the $6.5 billion bailout package approved by the IMF. If IMF issues this loan, then Pakistan’s economy can get a revival.
Pakistan has made many economic changes to get loan from IMF. In this, ranging from imposing tax on electricity, huge increase in fuel prices and increase in other taxes. No amount has been released by the IMF to Pakistan, for which discussions are going on between the two. Meanwhile, the IMF has placed a new condition.
What was the condition set by the IMF
According to PK Revenue’s report, the International Monetary Fund has sought external finance assurance before taking any step to release the bailout installment to Pakistan. This means that Pakistan will have to give assurance on external funding. IMF Director of Strategic Communication Julie Kozak said that before issuing the next bailout to Pakistan, it has to be seen whether we have finance assurance or not.
IMF demands $ 7 billion assurance
IMF is demanding an assurance of 7 billion dollars from Pakistan, but the Finance Minister of Pakistan is talking about keeping it up to 5 billion dollars. According to Pakistan’s Geo News, after the deal with the IMF, the foreign exchange reserves of that country will increase.
