It is also reported that shipping agents have warned cash-strapped Pakistan that foreign shipping companies are considering stopping their services to it. If such a situation comes, all exports to Pakistan may come to a standstill.
The future of Pakistan hangs in the balance and the country is engulfed in darkness. Till now the news of running out of flour in Pakistan was making headlines but now there is no electricity in Pakistan. The diesel used to keep electricity running for essential services is also on the verge of ending. If the power backup services are not rectified then the mobile towers in Pakistan will be completely closed and it will also have a direct impact on the hospital and transport services. Meanwhile, news has also come to the fore that the Parliament House of Pakistan has also been closed for three days due to power shortage. Although Pakistan has argued behind this that there was a short circuit in the Parliament House, due to which it had to be closed as a precautionary measure, but sources are telling that if there is no electricity, how will the Parliament function? The Senate of Pakistan has informed on Twitter that the offices have been closed for three days. Let us also remind you that recently the Government of Pakistan had given instructions that markets etc. will be closed in the evening only and marriages etc. will not be held at night so that electricity can be saved.
Meanwhile, a fault in Pakistan’s national grid caused a massive power outage on Monday, leaving millions of people without power in large parts of the country, including capital Islamabad and financial hub Karachi. The fault is said to have occurred because the authorities had shut down the power generation system at night to save on fuel costs. When the system was switched on in the morning, “frequency and voltage fluctuations were observed somewhere between Dadu and Jamshoro” causing the power generation system to shut down. Because of this, when people in Pakistan’s financial capital Karachi woke up in the morning, there was no light in the house. There were widespread power outages in other cities of Pakistan as well, but Karachi was the most affected. Some people in the city of Karachi, with a population of over 2.3 million, did not get drinking water because water pumps run on electricity. If seen, Pakistan has become one of the world’s worst financial crisis countries in recent years amid dwindling foreign exchange reserves.
Meanwhile, it is also reported that shipping agents have warned cash-strapped Pakistan that foreign shipping companies are considering stopping their services to it. If such a situation comes, all exports to Pakistan may come to a standstill. In fact, shipping companies say that banks have stopped paying freight charges to them due to dollar shortage. On this issue, Abdul Rauf, chairman of Pakistan Ship Agents Association, has written a letter to Finance Minister Ishaq Dar, warning that any disruption in shipping services can cause serious problems for the country’s international trade. The association warned, “If international trade is stopped, the economic situation will worsen.”
On the other hand, on the one hand there is a problem of starvation in Pakistan and on the other hand there is luxury of the rich. Pakistan, which is on the verge of default, has spent $ 1.2 billion (Rs 259 billion) on imports of items such as high-end cars, state-of-the-art electric vehicles and their parts during the last six months amid a sharp decline in foreign exchange reserves. Despite the economic crisis, the current government has lifted the ban on the import of expensive cars and this has become a major source of spending in dollars.
Pakistan, which was roaming around the world with a bowl, was expecting immediate help from the World Bank, but now it is reported that the approval of two loans of $ 1.1 billion from the World Bank to Pakistan, which is facing economic crisis, has been postponed till the next financial year. The World Bank, a Washington-headquartered institution, has also opposed the imposition of flood tariffs on imports. This has already hit a new snag in the $32 billion annual plan. On the other hand, Pakistan, which used to survive on US dollars for years, has now almost stopped getting help from Washington as well. When Pakistan faced power crisis, Islamabad hoped for help from Washington but the US has said that it is ready to help in repairing the fault in Pakistan’s national grid. This statement of America is equivalent to getting a shock for Pakistan from the closed switch of electricity.