Middle East

Pakistani people urged to drink less tea

Islamabad — Pakistani people are being asked to reduce the amount of tea they drink in order to maintain the country’s economy.

Senior Minister Arsan Ikubal said reducing the number of cups he drinks a day could reduce Pakistan’s expensive import bill.

The country’s foreign exchange reserves are low, and now less than two months for all imports is sufficient, so there is an urgent need for funding.

Pakistan is the world’s largest importer of tea, worth more than $ 600 million (£ 501 million) last year.

“We are importing tea for rent, so we are urging the country to reduce tea consumption by one or two cups,” according to Pakistani media.

Business traders could also close the stalls at 20:30 to save power, he suggested.

This plea came as Pakistan’s foreign exchange reserves continue to decline rapidly-pressing the government to reduce high import costs and maintain national funding.

The demand to reduce tea consumption has become a hot topic on social media, and many suspect that cutting caffeine drinks could address the country’s serious financial problems.

Pakistan’s foreign exchange reserves fell from about $ 16 billion (£ 13.4 billion) in February to less than $ 10 billion (£ 8.3 billion) in the first week of June.

Last month, Karachi officials restricted the import of dozens of non-essential luxury goods as part of a bid to protect funds.

The economic crisis is a major test for the Shebaz Sharif administration, which replaced Imran Khan as Pakistan’s prime minister in a parliamentary vote in April.

Shortly after being sworn in, Sharif accused Imran Khan’s retired government of miscontrolling the economy and said getting it back on track would be a major challenge.

Last week, his cabinet had a new $ 47 billion (£ 39 billion) budget aimed at persuading the International Monetary Fund (IMF) to resume a stagnant $ 6 billion (£ 5 billion) bailout program. Was announced.

The IMF agreement was negotiated in 2019 to mitigate the economic crisis caused by a shortage of foreign exchange reserves and years of stagnant growth, but after lenders questioned Pakistan’s finances. It has been paused. — BBC

https://saudigazette.com.sa/article/621813/BUSINESS/People-in-Pakistan-urged-to-drink-fewer-cups-of-tea?ref=rss&format=simple&link=link Pakistani people urged to drink less tea

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