Pakistan Economic Crisis / Poor Pakistan suffered a loss of 24 billion, now this new problem has come to the fore.

Another big crisis is looming over Pakistan, which is facing economic crisis from all sides. Pakistan's Railway Department, which is dependent on bread, has also reached the verge of becoming a pauper. The situation has become so bad that in the last six months it has incurred a loss of Rs 24 billion. There has been a decline of up to 50 percent in the earnings of Pakistan Railways

Vikrant Shekhawat : Feb 13, 2023, 09:42 AM

Pakistan Economic Crisis: Another big crisis is looming over Pakistan, which is facing economic crisis from all sides. Pakistan's Railway Department, which is dependent on bread, has also reached the verge of becoming a pauper. The situation has become so bad that in the last six months it has incurred a loss of Rs 24 billion. There has been a decline of up to 50 percent in the earnings of Pakistan Railways, due to which the salary has not been received.

Pakistan Railway's loss reaches Rs 24 billion!

According to the Pakistani newspaper The Express Tribune, a Balochistan minister has told the loss of Pakistan Railways to 24 billion, although the Government of Pakistan is still telling it only 3 billion. Pakistan's Law and State Minister Shahadat Awan has told that from July 2022 to December 2022, the Railways had a loss of about 3 billion.

Pakistan awaits IMF bailout package

Facing economic crisis, Pakistan is waiting for financial help from International Monetary Fund (IMF) and Pakistan is continuously trying to seek loan from IMF under bailout package. The Pak government is hoping that it will soon reach an agreement with the IMF mission on the terms of the $6.5 billion lending program to unlock significant funding from the IMF this time.

Pakistan Railway's earnings decreased by 50 percent

The deteriorating condition of Pakistan Railways is behind the decline in its earnings. According to the report, the earning of Pakistan Railways has decreased by up to 50 percent. Pakistan Railways has been able to earn Rs 28.263 billion in the first quarter of this financial year, while it spent Rs 52.99 billion during this period.

Foreign exchange reserves less than $ 3 million

The State Bank of Pakistan has reported that Pakistan's foreign exchange reserves with the central bank decreased by 5.5 percent or $170 million to $2.91 billion in the week ended February 3. After this, the economic condition of Pakistan, which is facing crisis, has become even worse. According to The News report, Pakistan has total reserves of $8.54 billion, which includes $5.62 billion in commercial banks.