Islamabad. In Pakistan, inflation reached a record level in the month of May and the plight of the common people has increased considerably. According to the latest data, the annual inflation rate in Pakistan increased to a record 37.97 percent in May.
At present, Pakistan is facing a big economic and political crisis. Pakistan is facing crisis like burden of foreign debt, weakening of local currency and reduction in foreign exchange reserves.
In terms of inflation and economic distress, Pakistan has left Sri Lanka behind. In May 2023, the inflation rate in Pakistan reached 38 percent, which is the highest in Asia. The inflation rate in Sri Lanka has come down to 25.2 percent at present.
Even after this serious crisis, Pakistan is expressing reluctance to fulfill the conditions of IMF. If the program of IMF’s finance funding ends at the end of June, then the risk of defaulting completely in front of the Shahbaz Sharif government can increase greatly.
Earlier in the last century, due to the support of America and now China, Pakistan has always been jumping beyond its limits. Pakistan constantly tries to compare itself with India in every respect.
