ISLAMABAD: Experts have feared that all the estimates for reducing the rising current account deficit had been thwarted by rising international prices.
They added that now Pakistan is on the track of reaching a new historical high deficit of $20 billion.
Following the Russian attack on Ukraine, rising petroleum and commodity prices in the international markets have aggravated the concerns of economic managers of Pakistan.
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Meanwhile, Prime Minister Imran Khan is all set to make a big announcement today (Monday) in an address to the nation.
This was stated by Foreign Minister Shah Mahmood Qureshi.
Earlier taking to Twitter, Minister for Information Fawad Chaudhry confirmed the PM’s speech.
The minister said that the prime minister would take the nation into confidence over the world challenges and economy following his Russia visit and ongoing Ukraine crisis.
Last week, Prime Minister Imran Khan had said that Pakistan has suffered a lot in the past, so we will not be a part of any group.
In an interview with Russian TV, the prime minister said that the world is facing the problem of illegal money transfer from developing countries. Illegal transfer of money is increasing poverty, our major responsibility in the world is to help human beings.
Imran said that the unfair distribution of resources and money laundering are also major challenges.
He said that our former rulers transferred money to London, for which we could not do anything for the return. These countries have made the return of this money very difficult, he added.
