Pakistan is now experiencing severe economic crisis. Daily essentials are becoming more expensive. Extreme inflation exists. The nation is undertaking several attempts to get through these difficult times. To conserve power, a certain type of fan’s manufacture has been halted in the meantime. The Shahbaz administration is making many efforts to address the issue, including shutting the stores at night. The reserve crisis and significant currency depreciation have put the economic system on edge.
Pakistan is not being caught up by the IMF.
The Express Tribune reports that due to a lack of foreign currency, it has been decided to grant a Haj quota to roughly 90,000 Pakistanis who reside overseas. This implies that owing to a lack of foreign currency, over 90,000 Pakistanis would be unable to perform the Hajj this year. Due to this 90,000 quota, Pakistanis living abroad would have the opportunity. According to official sources, the goal of this program is to stop money from leaving the nation. The government of the nation believes that this action will prevent the export of roughly 400 million dollars (400 million dollars).
According to official sources, Pakistanis’ Hajj quota has been reduced as a result of this decision. Additionally, under this mechanism, Pakistanis living abroad can conduct the Hajj on their own or pay for someone else’s costs who is still in Pakistan.
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Ishaq Dar, the finance minister of Pakistan, and Mufti Abdul Shakur, the minister of religious affairs, recently met. The conference agreed that 89,605 non-resident Pakistanis, or half of the quota, would be permitted to do the Hajj. As a consequence of this proposal, Pakistanis who are not residents can either sponsor someone from Pakistan or take up quota themselves.
The government (Federal Cabinet) will now be consulted over this meeting’s decision. There will be a final decision made. According to Umar Butt, assistant media director for the Ministry of Religion, due to problems with foreign money, it was suggested that expatriate Pakistanis receive half of Pakistan’s Haj quota.
In the midst of a financial catastrophe, Pakistan’s minister-advisers would suffer the consequences.
This year, Pakistan has set the price of doing the hajj per person at between 1.2 million and 1.3 million rupees.
Pakistan decides to stop manufacturing and selling fans in order to preserve power
This year, Pakistan has been granted 1 lakh 79 thousand and 210 Hajj quotas by Saudi Arabia. However, the administration of Shahbaz Sharif does not want to let such a large number of Muslims to undertake Hajj owing to the acute financial situation.
According to Ministry of Religious Affairs representatives, this year’s cost is at least 71 percent more than last year’s, or more than Rs 5 lakh.
Pakistan and the International Monetary Fund (IMF) are currently in debt negotiations. However, there can be none.