Deathtrap runaway – Prime Minister Shehbaz landed in Riyadh on Saturday for a three-day visit to attend the World Economic Forum’s Special Meeting on Global Collaboration, Growth & Energy. He was invited to attend the debate by Saudi Crown Prince and Prime Minister Muhammad bin Salman Al Saud and WEF Executive Director Klaus Schwab.
In the closing session of the debate, Prime Minister Shehbaz said: “There is also the problem of inflation and the debt trap, [which] I call ‘death trap as all of these together represent an enormous challenge for Pakistan.” Praising the kingdom’s leadership, he thanked the Saudi government for the support extended to Pakistan.
Speaking about his government’s efforts to lift the country out of the crisis, the country’s chief executive said: “Pakistan is going to undertake massive reforms to address economic challenges.
He further said that the country’s electricity sector was in ruins as power theft was massive. Furthermore, the prime minister lamented that an “elite culture” prevails in the country in which “alms are given to those who do not deserve it.”
“We have to fend for ourselves. I know this is difficult but not impossible. Now we are going for a deeply rooted structural reform.” “So we have to go for austerity, meaningful austerity, but not just for publicity,” he added.Deathtrap runaway
Moving on to climate change, the prime minister said that global warming led to a disaster in Pakistan in 2022 in the form of catastrophic floods.
Due to the catastrophic floods in Pakistan, large areas of land were submerged, millions of houses and animals were washed away and stagnant water brought waterborne diseases across the country, the Prime Minister continued.
Chief Minister Shehbaz said his government spent Rs 100 billion of scarce resources for relief and rehabilitation of those affected by the floods.Deathtrap runaway
![Deathtrap runaway](https://arynewsheadlines.net/wp-content/uploads/2024/04/Deathtrap-runaway.webp)
Deathtrap runaway
Pakistan’s economy suffered losses of $30 billion due to the floods and then approached international entities in Geneva and elsewhere and had to borrow at expensive rates due to the natural disaster which was not its fault, he said.
“Our country was hit in a way I have never seen in my life,” the Prime Minister commented. “Pakistan is among the countries that play no role in climate change,” he added.Deathtrap runaway
Referring to soaring inflation, the prime minister said: “Due to the war in Ukraine, prices of goods have increased globally.” Emphasizing the need for an immediate ceasefire in Gaza, the prime minister said world peace is linked to normality in the besieged enclave.
Highlighting the problems facing the cash-strapped nation, Prime Minister Shehbaz Sharif on Monday said the “death trap” of the debt trap and rising inflation posed a huge challenge for Pakistan.
He made these remarks during his speech at the closing plenary session of a special meeting of the World Economic Forum WEF being held in Riyadh, Saudi Arabia.Deathtrap runaway
![Deathtrap runaway](https://arynewsheadlines.net/wp-content/uploads/2024/04/Deathtrap-runaway1.webp)
Prime Minister Shehbaz landed in Riyadh on Saturday for a three-day visit to attend the World Economic Forum’s Special Meeting on Global Collaboration, Growth and Energy.