As former Pakistan Prime Minister Imran Khan received arrested, an enormous wave of concern and violence received triggered within the nation. It has been reported that seven folks have died within the violence that erupted in Pakistan, and 300 folks have been injured.
Exactly a 12 months in the past, Sri Lanka defaulted for the primary time in its historical past. And now as Pakistan’s financial disaster deepens amid its forex crashing towards the US greenback with surging inflation, it virtually looks like a replay.
The outrage in Pakistan over Imran Khan’s arrest comes on the heels of a months-long monetary disaster, which has led to overly excessive meals costs and a scarcity of correct sources, pushing a significant inhabitants of the nation under the poverty line.
It isn’t any shock that the Pakistani rupee crashed as we speak to 288.5 towards the US greenback following former Prime Minister Imran Khan’s arrest yesterday. The forex may additional lose its sheen because the nation’s political and safety scenario nosedived with widespread violence hitting a number of elements.
The same scenario erupted in Sri Lanka one 12 months again, when the financial system of the nation fell and other people had been out on the streets, turning towards the federal government and demanding the resignation of the pinnacle of state on the time.
People had entered the official residence of the president of Sri Lanka, and the Sri Lankan rupee had plunged to an all-time low. Exactly one 12 months after that incident, protestors in Pakistan hurled petrol bombs on the home of PM Shehbaz Sharif, setting police autos on fireplace exterior his home.
The Pakistan Stock Market has additionally tumbled massively within the midst of the monetary disaster. The Karachi Stock Exchange misplaced 298.86 factors closing at 41,074.95. The financial disaster is a direct fallout of maladministration and misplaced priorities of the federal government.
(With IANS inputs)
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