Business

Pakistani people will no longer be able to buy cars and expensive mobiles, the reason is very special

Photo:FILE

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The economic condition of Pakistan is like a patient admitted in ICU. The Pakistani rupee crossed the Rs 200 mark on Wednesday amid a crippling economy. The Shahbaz Sharif government of Pakistan is really sweating in handling the dilapidated economic situation.

Meanwhile, the Pakistani government has taken a big decision to handle the dollars coming out of the state treasury. The Pakistan government on Wednesday banned the import of non-essential and expensive items. According to information received from a media report, Pakistan, which is facing cash crunch, has taken this step amid decreasing foreign reserves.

The media report quoted ‘Geo News’ as saying that Pakistan’s Prime Minister Shahbaz Sharif has banned the import of non-essential goods, which are not used by the common man. Instructions have also been issued for this. This decision is being told important to control the rising price of the dollar.

The report said that the US dollar has seen a record rise during the past few weeks and has touched over Rs 200 in the open market today, indicating a lack of confidence among traders in the financial markets.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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