Pakistan Economy Crisis: Poor Pakistan will now deduct the salary of the employees
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Pakistan The economic crisis is getting deeper. The country has reached the verge of complete poverty. The public has become dependent on food and drink. The prices of food items are skyrocketing. The situation has become such that Pakistan is looking for help to improve its economic condition with a bowl. Meanwhile, news is coming that Pakistan is preparing to drastically cut the salaries of its government employees.
Ban on bonus, allowances of government employees
To improve its economic condition, Pakistan has banned the bonus, allowances and study leave of earlier government employees. Pakistan has abolished all allowances above 25 per cent of the salary of the employees with immediate effect. Pakistan has also canceled the medical bill payment of the employees of grade 11 to 21.
Employees are not getting salary in Pakistan
Amid salary cuts in Pakistan, there is an uproar among the employees regarding the salary in advance. Employees allege that they are not getting salary on time. Railway employees protested in the past for the salary. They allege that they are not being given salary. Railway employees also threatened to go on strike. The situation has become such that the trains are not being operated properly.
Inflation broke all records in Pakistan
Inflation has broken all records in Pakistan. Every china has become expensive in India’s neighboring country. The government has increased the prices of flour, sugar and ghee by 25 to 26 percent. Due to which the price of flour in Pakistan has crossed 150 rupees. Fuel prices in Pakistan are on the seventh sky. The price of commercial gas cylinder has reached Rs 10,000 in Pakistan. People are forced to buy gas in plastic bags. LPG gas is available in plastic bags for Rs 500 to Rs 900. Whereas, diesel is being sold at Rs 227.80 and petrol at Rs 214.80 per litre. Kerosene oil is being sold at Rs 171.83 a litre.
Pakistan’s average productivity growth from 2010 to 2020 was only 1.5 percent
Pakistan’s average productivity growth from 2010 to 2020 was just 1.5 percent. Significantly, productivity growth is an important contributor to economic growth. The study used listed and unlisted data from 1,321 firms divided into 61 sectors to estimate productivity growth in the country.
Pakistan will now be able to get the loan of $ 1.1 billion from the World Bank in the next financial year
The approval of two loans of $ 1.1 billion from the World Bank to Pakistan, which is facing economic crisis, has been postponed till the next financial year. The government was expected to approve a loan of $450 million in January. AIIB has promised to give $ 450 million to Pakistan on getting Rise-2C approval from the World Bank.
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