Multiple crises have aggravated inflation worldwide: speakers.

ISLAMABAD -- Speakers on Saturday remarked that the perma-crisis, which was a series of crisis occurring globally one after the other, had exacerbated the global inflation crisis, with inflation in Pakistan rising to 24.5pc.

The observation came at a seminar on 'Pakistan's Economy and Debt Challenges' organised by the Sustainable Development Policy Institute (SDPI) on Saturday.

SDPI Executive Director Dr Abid Qaiyum Suleri suggested that political instability globally and nationally had contributed to exacerbate the economic crisis.

In the past few years, Pakistan had managed to sail smoothly amidst the intensifying geo-political tensions, however, future developments seemed concerning.

SDPI head says friendly countries linking loans for Pakistan to IMF tranche

'We must remain politically correct with the West since loans from even friendly countries have become conditional to being able to secure the next loan installment from the International Monetary Fund (IMF),' Mr Suleri said, adding that, 'now is perhaps the time political forces in Pakistan realised that the IMF was a must despite its tough conditions, for the political capital taking non-popular decisions is inevitable'.

He warned that Pakistan was on the brink of a crisis like Sri Lanka which needed to be averted.

'The government needs to strengthen social protection to cushion the lower income segments during economic crisis,' he said.

Referring to the recent international financing pledges, Mr Suleri said Pakistan could not rely on the pledges to shore up foreign exchange reserves as even in the past half failed to materialise while the other half were transformed and remodeled into loans which would only add to the...

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