Pakistan is battling a serious economic crisis as the prices of all utilities have gone up. Prices of loose milk have gone up to Pakistani 210 rupees per litre while chicken has shot up to 780 rupees per kg.
Now, Pakistan will impose new taxes totalling 170 billion rupees this month in an effort to get a significant bailout. However, analysts expressed concerns that the additional taxes may speed up the nation’s inflation.
Earlier, the International Monetary Fund delayed a 6 billion dollar bailout for cash-strapped Pakistan over its failure to meet the criteria.