Pakistan's economic condition was "worse than anticipated" Shamshad Akhtar


Islamabad: 30 August 2023: Interim Finance Minister Shamshad Akhtar said on Wednesday that Pakistan's economic condition was "worse than anticipated" and that the government did not have "fiscal space" to provide subsidies as the nation battles soaring inflation.

She said that because the interim setup had "inherited" the International Monetary Fund (IMF) program, it was "non-negotiable" during a meeting of the Senate's Standing Committee on Finance today.

The announcement by the finance minister comes as Pakistan's high cost of living problems persist, particularly the excessive electricity prices that have compelled citizens across the nation to protest in the streets.

As it attempts to find a balance between avoiding the IMF's wrath and creating economic harm, the caretaker administration has so far been unable to come up with any relief measures.

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