Edited By: Pathikrit Sen Gupta
Last Updated: February 17, 2023, 16:03 IST
A cost-of-living crisis and inflation are eating into the lives of Pakistani citizens as the government awaits the release of a suspended IMF bailout package. (Representational image: Reuters)
Pakistan’s pending Letter of Credit (LC) orders have reached almost 15,000. There is also a major shortage of life-saving drugs in the country. But almost all countries friendly to Pakistan are struggling and have denied help, say sources
Pakistan has moved closer to bankruptcy with only three billion dollars left as its foreign exchange reserves. And its ‘friends’ have expressed their inability to help, sources told CNN-News18.
Pakistan’s pending Letter of Credit (LC) orders have reached almost 15,000. There is also a major shortage of life-saving drugs in the country.
China has refused to trade with Pakistan and wants advance payments.
Afghanistan is already in a skirmish with Pakistan. The Taliban regime is deliberating on stopping coal and dry fruit supplies to its neighbour.
In fact, almost all countries friendly to Pakistan are struggling and have denied help, CNN-News18 has learnt.
While Turkey is still grappling with the earthquake devastation, Qatar has told Pakistan that it can only help in trade and not on other issues.
Pakistan is not talking to Iran because of the US stance against Tehran.
Azerbaijan has told Pakistan that it can only provide backing in the UN and nothing more.
Malaysia doesn’t appear to trust Pakistan. Saudi Arabia has told Pakistan that its ‘Muslim card’ won’t work and that India has a larger Muslim population.
Sources say Pakistan has no plans as of now to address the stipulations of IMF and will fail in an upcoming second review. So far, there is no plan for a ‘Ramadan package’, they say.
The UAE, Saudi Arabia, and China have already told Pakistan that economic help can be extended if it sorts out matters with the IMF.
The UAE has also told Pakistan not to interfere in Kashmir and Israel issues, say sources.
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