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Imran Khan’s Party to Launch Nationwide Protests Against ‘Sinking Economy’
Imran Khan’s Party to Launch Nationwide Protests Against ‘Sinking Economy’
Sputnik India
Pakistan Tehreek-e-Insaf (PTI), which is headed by former Prime Minister Imran Khan, on Friday launched nationwide protests against the country’s “sinking economy”.
2022-12-30T15:03+0530
2022-12-30T15:03+0530
2022-12-30T15:25+0530
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Pakistan Tehreek-e-Insaf (PTI), headed by former Prime Minister Imran Khan, will begin nationwide protests against the country’s “sinking economy” from Friday, the party's senior Vice-President Fawad Chaudhry told local media on Thursday.The protests would reportedly be led by Members of National Assemblies (MNA) in various districts in the country. The PTI has 141 members in the National Assembly, the most of all Pakistani parties.Elections are the “only way out,” Chaudhry added, rejecting proposals to bring in a “technocrat” government to help Islamabad tide over the current economic crisis.Pakistan’s Foreign Reserves Drop to Eight-Year-LowThe opposition-led protests by the PTI took place as the foreign reserves declined to $5.8 billion, the lowest in eight years.The country’s inflation has remained in double-digits this year, with the Consumer Price Index (CPI) averaging 25 percent.Meanwhile, the Pakistani rupee (PKR) has also been depreciating vis-à-vis the US Dollar (USD), closing at 226.41 on Thursday. Pakistan's currency hit a multi-decade low of over 243 to the US dollar in September following devastating floods that affected millions of Pakistanis.Amid the declining forex reserves, the Pakistani government has on several occasions sought to reassure investors that the government won’t default on its foreign debt obligations.“There is no chance that Pakistan will default,” Finance Minister Ishaq Dar assured investors earlier this week.Dar has also said that Islamabad is awaiting billions of dollars in aid from multilateral agencies and rich nations like Saudi Arabia.
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Imran Khan’s Party to Launch Nationwide Protests Against ‘Sinking Economy’
15:03 30.12.2022 (Updated: 15:25 30.12.2022) Former PM Imran Khan has blamed the Shehbaz Sharif government for the country's economic woes.
Pakistan Tehreek-e-Insaf (PTI), headed by former Prime Minister Imran Khan, will begin nationwide protests against the country’s “sinking economy” from Friday, the party's senior Vice-President Fawad Chaudhry told local media on Thursday.
Chaudhry, a former federal minister, said Khan himself would join the protests after three weeks, when he is expected to announce the “next plan of action.”
The protests would reportedly be led by Members of National Assemblies (MNA) in various districts in the country. The PTI has 141 members in the National Assembly, the most of all Pakistani parties.
Elections are the “only way out,” Chaudhry added, rejecting
proposals to bring in a “technocrat” government to help Islamabad tide over the current economic crisis.
Pakistan’s Foreign Reserves Drop to Eight-Year-Low
The opposition-led protests by the PTI took place as the foreign reserves declined to $5.8 billion, the lowest in eight years.
The country’s inflation has remained in double-digits this year, with the Consumer Price Index (CPI) averaging 25 percent.
Meanwhile, the Pakistani rupee (PKR) has also been depreciating vis-à-vis the US Dollar (USD), closing at 226.41 on Thursday. Pakistan's currency hit a multi-decade low of over 243 to the US dollar in September following devastating floods that affected millions of Pakistanis.
Islamabad said that the floods resulted in cumulative economic damage of over $30 billion.
Amid the declining forex reserves, the Pakistani government has on several occasions sought to reassure investors that the government won’t default on its foreign debt obligations.
“There is
no chance that Pakistan will default,” Finance Minister Ishaq Dar assured investors earlier this week.
Dar has also said that Islamabad is awaiting billions of dollars in aid from multilateral agencies and rich nations like Saudi Arabia.
