Pride News Daily NEWS
Related Articles
Asim Qadeer Rana
Islamabad Aug 29: With the Interim Prime Minister Anwarul Haq Kakar tries to huddle a tattered economy, Miltablishmeht is now eyeing an out of box solution nonetheless but to look at Iran and Kingdom of Saudi Arabia as its partners to resolve the energy crises at home.
Pakistan has seen a surge in protests from enraged consumers across the country specifically from traders, protesting against an increase electricity bills sent this month to the consumers.
“A bigger crises is in the offing from October 20 onwards, due to looming gas crises which will be major shocker,” and “once the petrol prices are also increased in a weeks time,” said a senior government functionary, refusing to share his name with the press.
With a recent IMF bailout Pakistan’s is unable to control its staggering inflation already touched 29 percent this month.
The International Monetary Fund’s (IMF) board has given its approval for a $3bn ($2.3bn) bailout for the country but the economically troubled nation was given a quick $1.2 billion , with the rest due to be paid out over the next nine months.
“Seeing that interims are almost handicapped to tackle the growing protests and bail out, the Miltablishment has stepped in and asked for every option, and it’s none other than Iran along with Kingdom of Saudi Arabia for – cheap fuel, electricity and then the gas”, the official informed.
He said “it’s simple maths – Iran, and Saudi Arab are our future energy partners.”
“ we can’t let our people die in humid weather suffer from increased fuel prices and don’t want them to stay in cold at all in winters without gas.”
It is worth noting that IMF has not given a positive response to Pakistan, said a senior finance ministry official engaged with such negotiations.
“How can you renegotiate on negotiated terms”, said the official.
However, Miltablishment believes that it’s a catch 22 situation and “we have to help the people at any cost”, the official quoted senior PM House official as saying.
Lack of support, and trust deficit of people are key factors hammering smooth work of interim government specially a cold engagement with the international monetary institutions, said the official.
The official said our reserves are depleting and wild dollar are pinching points of economy.
If the present economic crises continues “we may see dollar crossing Rs390 mark in two months time.”
The official said observed that Miltablishmeht believe that people of Pakistan are their priority and urgency calls for an action on ground.
“A back door engagement is on with Iranian and Royals of Saudi Arabia, but we will take all stake holders on board before an affirmative action,” remarked the official.
Ends.
