According to a report in The News International newspaper, Pakistan has spent $1.2 billion on the import of transport items like luxury cars and electric vehicles during the last six months despite being short of cash.
Non-essential purchases
Continuously trying to ask for loan from IMF
After the report of vehicles worth $1.2 billion came to the fore, many concerns have been raised about the Pakistani government’s policy of stopping imports from the area of technology and commerce and spending huge amount on luxury cars and other vehicles. The report comes at a time when talks between Pakistan and the International Monetary Fund (IMF) are set to begin next week amid falling foreign exchange reserves.
Moreover, if the IMF program is not restarted within a few weeks, Pakistan will sink faster. According to Geo News, the country has already contacted the International Monetary Fund to inquire about the process and complete its ninth review.