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Pakistan's economic condition continues to deteriorate due to 'deep debt'
Pakistan is one of the fifty-two countries facing a severe debt crisis and the repayment and servicing of external debt are amongst the most severe issues faced by the country. According to Islam Khabar, persistent borrowing creates a spiral with more borrowing leading to an impending economic crisis. Evidence supports the view that a large portion of the government debt has a negative impact on economic growth potential, and in many cases, the impact gets more pronounced as debt increases. Reports say that the high degree of indebtedness has made Pakistan more vulnerable to economic shocks and weakened it politically vis-a-vis external lenders. With an external public debt of over USD 90 billion, Pakistan is clearly on the brink of an economic disaster.   Citing the Ministry of Economic Affairs data, Islama Khabar reported that Pakistan made a net addition of USD 4.77 billion in the first half (July-December 2021) of the current fiscal year to its total external public debt of USD 90.6 billion. Consequently, reserves of the State Bank of Pakistan (SBP) plummeted to USD 10.308 billion, a decrease of USD 190 million. External debt repayments resulted in the rapid descent in reserves. According to official figures, reserves which the SBP currently possesses can cover imports, for only about 1.54 months. In addition, the decline of foreign exchange reserves is a result of Pakistan's inflation of twin deficits, a lack of foreign currency inflows, and a sharp increase in the foreign debt servicing obligations, Islam Khabar further reported. Notably, Shehbaz Sharif's government has increased the petrol and diesel prices by PKR 30 per litre causing a surge in the cost of production in the country.   This price hike came after talks between the Pakistan government and IMF in Doha. These discussions were aimed at reaching an agreement on policies at the conclusion of the IMF's seventh review of its USD 6 billion programmes for Pakistan, which has been stalled since early April. The IMF had refused to revive the USD 6 billion programme if Pakistan fails to remove the fiscally unsustainable fuel and electricity subsidies. It had given Islamabad two days to lift the cap for the continuation of talks. Source: ANI
30 May 2022,17:41

Begum Khaleda Zia’s health condition improving: Fakhrul
BNP Secretary General Mirza Fakhrul Islam Alamgir has said that the health condition of Begum Khaleda Zia who is currently undergoing treatment at a hospital, is developing. He informed that she has no breathing problem at the moment and the oxygen saturation is good. But she is suffering from some post Covid complications. It is a matter of concern. Referring the physicians he also informed that there are some problems in her heart and kidneys. In this situation she needs better treatment which is not available in the country. She needs to provide treatment abroad but the government did not permit. The BNP leader was speaking at a program at National Press Club on Friday. Thanking journalist Rozina Islam, Mirza Fakhrul said, thanks to Rozina. Because she upheld corruption of the health ministry and government bravely. For this reason health ministry and the government are angry over Rozina. About not granting bail to Rozina he said, bail process is being delayed illegally. The habit of Awami League government is to file cases. He commented that unjust act should be termed as unjust. At present people are being killed after torturing him during remand under police custody. Mirza Fakhrul said that due to the division among journalist society movement does not come out as successful. The program presided over by Jatiyatabadi Mahila Dal president Afroza Abbas where BNP standing committee member Mirza Abbas, Gayeshwer Chandra Roy and party vice chairman Shawkat Mahmud delivered their speeches. AH
26 May 2021,20:51

Decision to resume international flight operation under condition
Civil Aviation Authority of Bangladesh (CAAB) has decided to resume international commercial flight operation under strict conditional basis in this corona pandemic situation. The information was delivered through a notice of CAAB on Saturday. The notice said, decision has been taken to resume international commercial flights under special conditional purpose from May 1 except the countries which are considered as the most risky. It said, a notification was issued for resuming international flight operation on behalf of CAAB after imposing special conditions to travel 38 countries considering the current Covid infection rate. According to the notification air bubble flights have been remained suspended, temporary communication cut with the most risky countries and 14-day institutional quarantine has been made compulsory for the passengers from the risky countries. It was also mentioned in the notification, the passengers arriving from the countries out of the list have to bring the negative certificate and also they have to maintain strict 14-day home quarantine. As an exception the passengers coming from three Middle East countries (Qatar, Bahrain, Kuwait) have to follow three-day institutional quarantine management though those are in the list of risky countries. Later they will be considered to maintain 11-day home quarantine or isolation based on their health examination results.   The notification mentioned that through this management the stranded immigrant passengers will be able to get opportunity to go to their destination or work station and they were also urged by the authority to provide all types of cooperation to ensure and implement the health guidelines and other conditions. AH     
01 May 2021,11:52
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