FINANCIAL WORSENING OF PAKISTAN 

Funds of Pakistani Embassies around the world have been stopped

According to the reports this just happened due to the economic condition of Pakistan. On account of lack of funds, staff salaries of Pakistani Diplomatic missions have also ceased. Many embassies do not even have money to pay utility bills. 

The foreign office also confirmed the discontinuation of funds. Pakistani embassies informed the foreign office about the situation. According to the spokesperson of the foreign office, the matter has been raised with the ministry of finance.

On the other hand, Inter-ministerial meeting on the economic situation of the country was held under the chairmanship of Federal Minister of Finance and Revenue Senator Muhammad Ishaq Dar. In the meeting, the economic situation and the current procedure of foreign exchange were discussed to strengthen anti-trafficking system of wheat and urea. The finance minister emphasized the need for coordination between all necessary platforms for this purpose. He further urged the concerned authorities to devise a strong and proactive road map to prevent cross border smuggling of various commodities to bring economic and financial stability to the country. 

On this occasion, Minister for law and justice, special assistant to prime minister on finance, special assistance Revenue, Governor State Bank, Secretary Finance, Secretary Revenue, Chairman FBR, DG FIA, DG Senior officials of I&I Customs and Intelligence Agencies also participated. 

KPK and Gilgit facing financial problems

Khyber Pakhtunkhwa Chief Minister Mehmood Khan says that since this government came, we are facing financial problem, the arrears of KPK are the responsibility of the federal government. He warned the federal government that our dues should be paid. Otherwise, they will sit in front of National Assembly. While a press conference along with Chief Minister Gilgit-Baltistan Khalid Khurshid and Finance Minister Punjab Mohsin Laghari, they said that there are consultations and provincial issues, there is a one-point agenda regarding funds. Further, they stated KPK has 3 trillion budget in history, they have tried to discuss the arrears with the federation, and have received 5.5 billion rupees till December.

He also said that the funds of FATA were not given, the budget was cut, which will resulting in their rights getting taken away. Loan allowance is also not allowed.

Chief Minister Gilgit Baltistan said that the Federal Government has cut our development budget, at the moment the situation is inferior that we cannot even do repair works. Gilgit Baltistan is a cold region but there continuous load shedding of 21 to 22 hours. We are facing lack of wheat and electricity. The question is from where do we fill this gap? As federal government was always giving subsidy and there is also no response of the letter that we have written about the stuck money of Gilgit Baltistan council. The Federal government is playing hide and seek, we do not understand what they want. 

Punjab Finance Minister said that not a single penny was given to Punjab regarding the flood and not a single project of Punjab was kept in the ECNIC meeting. The situation needs immediate attention to stop the deteriorating of the situation.