Sanchez said that the economy was doing well and growth would probably be closer to what Pakistani authorities had an-nounced. Like Sri Lanka, Pakistan’s annual bill for oil imports amounts to around 60% of its foreign exchange reserves. This makes our economy very vulnerable to Brent crude prices as we constantly borrow in dollars to finance energy imports. This hurts the overall economy in the long run, and we see increasing inequality, declining foreign exchange reserves and rising current account deficit (CAD). Line losses of DISCOs are as much as a structural problem as they are a behavioural problem.

Source: The Express Tribune May 02, 2022 07:22 UTC