While all these fun and games are going on there is a much bigger threat that is looming on the horizon. Haider Mehdi interviewed an economist and this is what he said.
Pakistan is on the verge of defaulting on its foreign loans. The IMF is demanding that Pakistan gets deposits from friendly countries before IMF will release funds but no one is willing to help. The political turmoil is scaring everyone away.
In case of default the economy will collapse. Prices will go up even more. Factories will shut down. Exports will go down. There will be mass unemployment. There will be shortages of petrol and other things. Electricity will run only a few hours per day. Value of rupee will go down a lot. Imported goods will disappear. There might even be food shortages.
What the economist didn’t say but I will is that there will be massive civil unrest. Crime will go through the roof. There will be terrorism and separatist movements.
It’s quite horrendous that Pakistan is on the verge of all this and the generals are playing games to save their luxuries.
For people living in Pakistan I would advise them to stock up on food, petrol and other essentials. Also, get guns and ammunition to protect yourselves from crazed, starving people going around looting and robbing.
