Pakistan Economic Crisis News: Shahbaz Sharif Government To Close Markets At 8PM Under New Energy Saving Plan
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Iqbal informed about this decision in the meeting of the National Economic Council. The meeting was held in Islamabad and was presided over by Prime Minister Shehbaz Sharif. Iqbal said that the Chief Ministers of Sindh, Punjab and Khyber Pakhtunkhwa provinces had participated in this meeting. The minister claimed that the move would save $1 billion every year. He said that this order has been given to save resources. Iqbal said that energy crisis has become a big challenge for Pakistan.
Pakistan is not getting loan from IMF
The minister said that the government of Pakistan should reduce the import of oil and focus on saving energy. He said that the government will now promote green energy. The Shehbaz Sharif government has directed all departments to reduce power consumption by 30 per cent. Pakistan is currently begging for loans and has even had to lease its US-based hotel. Pakistan is asking for a loan from the IMF so that the country can be saved from default.
At the same time, the IMF has refrained from giving loan to Pakistan. IMF has put many strict conditions so that Pakistan, which has taken a loan and has to repay the loan, can be reformed. According to sources, Pakistan was repaying China’s CPEC debt by taking a loan from the IMF. Because of this the IMF has shocked him. Pakistan owes a debt of $30 billion to China. At the same time, Saudi Arabia and UAE are now refraining from giving loans to Pakistan. Because of this, now IMF is the only option left for Pakistan.
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