Financial Crisis

Trains have gradually come to a standstill in Pakistan, as the Railways have disrupted amid rising fuel crisis in the country. Pakistan Railways have stopped services across the country, also due to lack of revenue amid ongoing financial crisis in the nation, reported The Express Tribune. Meanwhile, Pakistan Railways is also buying fuel from private firms to continue operations. However, government officials are yet to make a statement.

The Pakistan Government is suffering economic crisis, due to financial burdens of domestic and external matters. According to local Islam Khabar, the Imran Khan Government is hoping new International Monetory Fund (IMF) loan under its extended fund facility (EEF) and Chinese investment for facing this financial crisis and meet gross financial needs. Notably, the Pakistan budget is expected to go up by USD 28-30 billion in next 2022-… read-more

Describing the financial crisis, Actress Shagufta Ali said that she had to sell off her car and pieces of jewellery after she exhausted her savings due to the pandemic. However, the 54-year-old actress revealed that she had no work for years, and it became difficult for her to take care of her medical expenses. Moreover, Shagufta suffers from third-stage of breast cancer.

Two men, along with their wives, were thrashed by locals of Devgaon Khurd village in Maharashtra's Osmanabad district after being caught stealing pyre ashes for extracting melted jewellery of a cremated woman. The accused were later handed over to police and a case has been registered against them. Reportedly, the offenders were facing financial crisis and after learning that the deceased was being cremated along with her jewellery, they … read-more

The England and Wales Cricket Board (ECB) announced on October 23 that their cricketers under central contract had agreed for a 15 percent pay cut for 12 months. The decision was taken to tackle financial loss of $130.80 million owing to the pandemic. An agreement was made between the ECB and the Team England Player Partnership. Reduction in match fees, win bonuses and retainers will be a part of the reduction.