Pak Rs 240 to a dollar; economy on brink of collapse

Islamabad (| After Sri Lanka, the economy of Pakistan is also undergoing a serious crisis. The Pakistan treasury is left with $10,000 only. With continuous devaluation, the dollar is becoming costly for Pakistan. The present rate is more than Pak Rs 240 for $1. Strangulated under international loans, Pakistan has been demanding financial support from various countries. According to Pakistani Minister Ahsan Iqbal, the foreign exchange reserve is fast depleting. At the same time, Pakistan is unable to repay the loans already taken.

State Bank of Pakistan Governor Murtaza Saiyad stated that about 70 percent of the GDP loan is still to be repaid. About 40 percent of the total revenue is spent on repaying the loans According to the Pakistani Economic Advisory Forum the $87570 million loans in 2021 have gone up to $128790 million. Pakistani rupee against the dollar was valued at Pak Rs 140 last year, which has gone to Pak Rs 240 this year.(HS):