Pakistani people chase wheat flour trucks as economic crises deepens- Video
1 min read 29 Mar 2023, 04:44 PM ISTThe crisis in Pakistan is touching new heights with two people reportedly losing their life on Tuesday while queuing for flour
PremiumAs the Pakistani government negotiates financial aid from global agencies, the country is reeling under severe economic crises, signs of which are evident on roads now. A video is doing rounds on social media where hundreds of people in Pakistan can be seen running behind a truck carrying wheat flour.
The video which is reported to be Peshawar province of Pakistan went viral on social media with people expressing anger over the situation in the country.
The crisis in the country is touching new heights with two people reportedly losing their life on Tuesday while queuing for flour. According to the Pakistani media, two people also fainted due to the huge rush at flour distribution points.
The development came as Pakistan and the International Monetary Fund (IMF) are negotiating a bailout package for the crises-hit the country.
Recently, according to the reports from pkrevenue, IMF has asked Pakistan to provide external financing assurances before it takes the next step with Pakistan to release the bailout tranche.
“Timely financial assistance from external partners will be critical to support the authorities' policy efforts and ensure the successful completion of the review (with Pakistan)," said Julie Kozack, the IMF's Director of Strategic Communications while addressing a press briefing.
“Ensuring that there is sufficient financing to support the authorities is the paramount priority. A Staff Level Agreement (SLA) will follow once the few remaining points are closed. We do need to ensure that we have those financing assurances in place in order for us to be able to take the next step with Pakistan," she added.
The financial institution is requesting that Pakistan obtain a guarantee for as much as USD 7 billion in order to cover the deficit in this fiscal year's balance of payments. However, Finance Minister Ishaq Dar has maintained that the amount needed should be closer to USD 5 billion.
At the same time, the political pot in the country is also boiling with the government dealing with a huge support base of Former Prime Minister Imran Khan demanding general elections in the country.
