NEW DELHI: Pakistan is facing severe economic and military challenges due to the ongoing crisis in the Middle East and its own internal conflicts. The war between Iran and Israel, coupled with its strained relationship with Saudi Arabia, has intensified Pakistan's woes. On top of this, the country is battling the Tehreek-e-Taliban Pakistan (TTP) and Balochistan Liberation Army (BLA), which are exacerbating its economic downturn.
The government has introduced several austerity measures to protect the economy, including reducing the use of official vehicles by 60% and mandating government officials earning over Rs 300,000 to give up two days' salary (except in the health and education sectors). Members of the legislature will also face a 25% salary cut for two months. Additionally, the government has slashed petroleum provisions for official vehicles by 50%, imposed a ban on business-class travel, and restricted foreign trips to only essential ones.
A 20% reduction in non-essential government expenditure has been ordered, and there will be no new purchases of durable goods for government offices, except for essential IT equipment. The government has also implemented a four-day workweek for most offices and will only allow virtual meetings to cut costs.
Meanwhile, the private sector has been advised to follow similar cost-cutting measures, although they are not mandatory. However, experts warn that if the Middle Eastern crisis continues, these austerity measures may not suffice to prevent Pakistan's economic collapse. The country is already heavily in debt, and recent hikes in oil prices have worsened the situation, leading to reduced retail activity and a drop in the stock market. The agriculture sector, crucial to the economy, is also struggling, while daily commuters and food delivery riders are bearing the brunt of high fuel costs.
With a history of losses from past conflicts, including the war on terror, Pakistan faces an uncertain future if the Afghanistan conflict persists. (IANS)
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