Pakistan Sell Assets: Pakistan’s foreign exchange reserves are continuously decreasing. If you look at the figures of State Bank of Pakistan, where it was $ 17.69 billion till December last year, it has come down to $10.16 billion by May this year.
Shahbaz Sharif’s government is taking such steps to bring Pakistan’s crippling economic condition back on track, which has created more suspicion and discontent in the whole country than before. Many countries of the world have now refused to give loans to Pakistan, in such a situation, the government has made up its mind to sell all the important government companies. For this, the cabinet has approved a bill, under which the government will be able to sell government companies without any restriction and there is no provision to challenge the bill in court. It will be implemented after the approval of the President.
In fact, the International Monetary Fund (IMF) has not yet given approval to give a new loan to Pakistan, while the World Bank and the Asian Development Bank have also pulled their hands. The situation has become such that now the Shahbaz government has no way left. Politically, he blames it on his previous governments and says that the Imran government has ruined the entire economy of the country. However, at this time still the President of Pakistan Arif Alvi is considered a supporter of Imran and it is said that he works only on the instructions of Imran. But the Shahbaz government is hopeful that they will get this bill approved by Alvi.
In fact, Imran himself does not want to make such decisions while in his government, so it is believed that Alvi will get the green signal from his side so that the blame of public dissatisfaction falls on the government itself and on the other hand the government companies will be sold. Let the way be clear. By making this an election issue, they can also open a front against Shahbaz’s coalition government in the upcoming elections.
At present, to get the country out of debt, the Shahbaz government is finding it necessary and they have made preparations to sell many big companies. Among these companies, Oil Gas Development Company Limited, Pakistan Petroleum and Muri Gas Company are being considered at number one. According to ANI reports, the Sharif government can sell these companies to get two to 2.5 billion dollars so that the country can be saved from bankruptcy for a few months. The government of Pakistan has spread its hand in front of all the countries for debt. Even the United Arab Emirates had refused to give him further loans, saying that he should first repay the previous loan, then only the matter would be settled further.
Pakistan’s foreign exchange reserves are depleting continuously. If we look at the figures of State Bank of Pakistan, then where it was $ 17.69 billion till December last year, it has come down to $10.16 billion by the end of May this year. Obviously, the situation is complicated and the problems of the Shahbaz government are not decreasing. Imran Khan has started political rhetoric as soon as this bill is passed, while there were reports of many airports and highways being mortgaged during his tenure and even then the UAE refused to give him loans.