Following the path of Pakistan, Bangladesh is also heading towards a massive financial crisis, indicate reports. With the increase in prices, people took to the streets in many places against the Sheikh Hasina government.
Opposition parties also demanded Hasina’s resignation. Bangladesh suffered a setback due to the collapse of the garment manufacturing sector due to the Covid crisis.
IMF has granted financial assistance of 4.7 billion dollars to Bangladesh. The government hopes that through this help, it can be held at least temporarily. But lack of money, including fuel imports, will exacerbate the crisis.
Meanwhile, prices of essential commodities are rising sharply in Pakistan. The value of Pak Rupee has also fallen sharply. Experts warn that inflation will remain high at 21-23 percent and the fiscal deficit will increase by more than 115 percent in the first quarter of the current financial year.
Power crisis is also acute in Pakistan. Many cities are reportedly facing power crisis. In debt-ridden Pakistan, what is happening in the energy sector is a huge setback. About 90 percent of Pakistan’s electricity is generated from diesel and coal plants.
As the power crisis has worsened, many places have been instructed to close business centers, malls and restaurants by evening.
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