For Pakistan, the dream of getting out of the clutches of terrorism and militants has always been elusive. Adding to this, corruption has pushed the country into an extreme crisis. This is another bad news for this country which is in a shaky economy. There is no accounting for the 40 billion rupees allocated for the coroner’s action.
According to a report in The News, there is no accounting of where this huge amount of money has gone. However, the relevant ministries have kept this information secret for the last six months. Finally, a report from the Auditor General of Pakistan (AGP) revealed this information.
The lost money also includes grants from various international donor agencies. As a result, the Pak government is in dire straits as it is unable to give an account of the area and expenditure of that money.
The IMF has already stated that it will have to submit its income and expenditure figures and accounts for the এক 1 billion loan that is due to Pakistan by January 1. But the country’s finance ministry has not been able to match the huge figure of 40 billion rupees.
According to The News, the report was rejected after it was raised at a meeting of the federal cabinet.
Pakistan’s Information and Broadcasting Minister Fawad Chowdhury said that if the report was raised at the meeting, the finance ministry would immediately reject it. He also hinted at holding those concerned accountable in this regard.
Pakistan is facing growing economic challenges, including high inflation, declining foreign exchange reserves, current account deficit and currency devaluation. According to the country’s central bank, Pakistan’s total foreign reserves currently stand at 22,498.6 million. In such a situation, Imran Khan’s government has taken a huge loan from Saudi Arabia in exchange for high interest.
The US-based news agency Reuters quoted a financial adviser to Pakistan’s prime minister as saying that Pakistan had lent ৩ 3 billion to Pakistan as part of an economic aid package on December 4. However, the question arises as to the proper use and repayment of that loan money. Because even before this, Islamabad was involved in a dispute over a loan from Riyadh. So that possibility is going away.
Pakistan’s central bank has raised its benchmark interest rate by 150 basis points to 7.75 per cent in response to the country’s current inflationary pressures. Inflation in the country stood at 11.5 percent in November, up from 9.2 percent a month earlier.