The change of government in Pakistan occurred on 10th March 2022 when Imran Khan, who is a cricketer turned politician, through a no-confidence motion in parliament, was ousted as Pakistan’s prime minister. On April 10, he was held to a motion of no confidence and was impeached, becoming the first Prime Minister of Pakistan to be impeached by a motion through the same.
Following his tenure, Shehbaz Sharif was nominated as the new Prime Ministerial candidate by the opposition party after passing a motion of no confidence; later he was elected as the Prime Minister on April 11, 2022.
However, the latest news from Pakistan says that the Asian country appears to be headed for long-term instability as the country sinks into deeper economic crisis (the Pakistani rupee continues to free-fall) and the Pakistani military takes a stand as neutral.
Highlighting on the same issue, the former Pakistani National Team cricketer Mohammad Hafeez, highly regarded for his sincere talks, overtly criticized the senior authorities of USA on Saturday for issues which are being confronted via way of means of monetary exclusions in Pakistan.
In a tweet, Hafeez claimed there may be no petrol in gas stations in Lahore. Additionally, he has reiterated that automatic teller machines (ATMs) have run out of cash, hinting upon a serious crisis of money across the entire nation. Hafeez tagged numerous politicians in his, including the Pakistani Prime Minister Shahbaz Sharif in order to highlight the issue to the world.
“No Petrol to be had in any petrol station in Lahore??? No coins to be had in ATM machines?? Why a common guy residing in a usual state must be afflicted by political decisions,” tweeted Hafeez, tagging Sharif, Imran Khan, Maryam N Sharif, and Bilawal Bhutto Zardari.
Pakistan’s monetary disaster has worsened with the costs of day to day necessities attaining new highs. According to a document set forth by the way of means of the Economic Affairs Division (EAD), the United States of America incurred an overseas debt of USD 13.033 billion from a couple of financing reasserts withinside the first 10 months (July-April 2021-22), consisting of USD 2.623 billion from overseas industrial banks for the complete monetary period of 12 months.
The outside inflows, in congruent with the document, in the course of the corresponding period (July-April) of the monetary 12 months 2020-21 has climbed up till USD 10.195 billion consisting of USD 3.246 billion from overseas industrial banks in opposition to the budgeted quantity of USD 12.233 billion.
The World Bank has highlighted the structural weaknesses of Pakistan’s financial system which consist of low investment, low exports, and a low productiveness in expenditure cycle. However, politicians have criticized every external force for Pakistan’s monetary disaster.
