Pakistan / Only 18 days with Pakistan! Government exchequer may be swept before the end of February

Pakistan: Pakistan, surrounded by economic crisis, has only 18 days left. According to the latest figures, till January 27, only $ 308.62 million is left in Pakistan's coffers. Which is enough for only 18 days of imports. On the other hand, oil companies in Pakistan have warned that the country's petroleum industry is on the verge of collapse due to increased trade costs due to dollar shortage and rupee depreciation.

According to the report of the news channel Geo News, the government removed the limit on the dollar in order to meet the demand of the International Monetary Fund (IMF). Due to this, the Pakistani rupee reached a historic low of Rs 276.58 per dollar in the international market. The IMF has imposed several conditions for reinstating the relief package, including a market-determined exchange rate for the local currency and simplification of fuel subsidies. The government has already accepted both the conditions.

The Oil Companies Advisory Council (OCAC), in a letter to the Oil and Gas Regulatory Authority (OGRA) and the power ministry, said the industry has suffered losses running into billions of rupees due to the fall in the exchange rate of the rupee as their letters of credit (LCs) A new rate is likely to be fixed for The government has also imposed restrictions on letters of credit due to dwindling foreign capital reserves.