As the Pakistani government negotiates financial assistance from global agencies, the country is rolling under an extreme economic crisis as the signs are visible on roads also now.
One of the videos is doing rounds on social media in which hundreds of people in Pakistan can be seen running behind a truck carrying wheat flour. The video went viral on social media and is reported to be in the Peshawar province of Pakistan where people are seen expressing anguish over the situation in the country.
On Tuesday, the crisis in the country is touching new heights with two people reportedly losing their lives while lining up for flour. Two people also fainted due to the huge rush at flour distribution points, according to the Pakistani media.
The development came as Pakistan and the International Monetary Fund (IMF) are negotiating a bailout package for the crisis-hit country.
According to the reports recently from pkrevenue, IMF has asked Pakistan to offer external financing assurances before it takes the next step with Pakistan to release the bailout section.
Julie Kozack, the IMF's Director of Strategic Communications while addressing a press briefing said, “Timely financial assistance from external partners will be critical to support the authorities' policy efforts and ensure the successful completion of the audit (with Pakistan)."
She added, “Confirming that there is sufficient financing to support the authorities is the supreme priority. A Staff Level Agreement (SLA) will follow once the few remaining points are closed. We do need to ensure that we have those financing assurances in place in order for us to be able to take the next step with Pakistan."
Although Finance Minister Ishaq Dar has maintained the amount needed should be closer to USD 5 billion, the financial institution is requesting that Pakistan acquires a guarantee for as much as USD 7 billion in order to cover the deficit in this fiscal year's balance of payments.
At the same time, the political bowl in the country is also boiling with the government dealing with a large support base of Former Prime Minister Imran Khan demanding general elections in the country.
