Huge Decline In Pak Foreign Currency Reserves | Dollar Up Rupee Down

Pakistan has paid its foreign debt to countries, IMF, world bank and foreign agencies due to which within a week big chunk of foreign reserves is down by $1.7 Billions. Due to this down in foreign reserves, Pak currency Rupee is depreciated due to dollar outflow and dollar touches to 165 Rupee. More payments are due in June with worth of $3 Billions against foreign debts which may caused further depreciation of Pakistani currency against American Dollar. Pakistan has already requested G-20 to reschedule its debt payments so that countries like Pakistan can counter the current prevailing health situation. On the other hand, looking at the current poor economic condition of Pakistan, IMF has asked to reduce the salaries and pensions of the servants to mitigate the gap of the budget deficit. Pakistani Govt has rejected this proposal and thinking what to do about salary and pension rise of Govt employees and retired ones

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