'We are on the verge of ruin', letter written to PM Shehbaz Sharif
'We are on the verge of ruin', letter written to PM Shehbaz Sharif
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Islamabad: Pakistan's economic situation is continuously getting worse. Now the country's oil companies have warned the government that the oil industry has reached the verge of complete destruction. Companies say that Pakistan does not have dollars left, so the price of the rupee is continuously falling, due to which the industry has been threatened. 

According to the report, in a letter written to Pakistan Prime Minister Shehbaz Sharif, oil companies have said that in just a few days the country's oil industry will completely collapse. Let us know that Shehbaz Sharif is waiting for help from the International Monetary Fund (IMF), but Pakistan does not see the possibility of getting help from the IMF at the moment. This is the first time that Pakistan is going through such a severe oil crisis. A lock on petrol companies would mean the complete collapse of Pakistan's remaining economy.  

Let us know that Pakistan has appealed to the IMF many times for aid money, but the IMF has already advised the Government of Pakistan to make every effort to reduce spending and increase its government treasury. The IMF has asked Pakistan to complete all the instructions given in recent days. Pakistan's foreign exchange reserves are rapidly running out. Pakistan has recently repaid the installment of foreign debt, due to which the country's foreign exchange reserves have come down to $3.09 billion. With this money, Pakistan will be able to import only for a few days. 

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