Ismail, the Pakistani finance minister, foresees economic troubles through September.

Finance Minister Miftah Ismail warns economic hardships will persist until September . Government lifted ban on the import of non-essential and luxury items placed earlier in May .

Karachi (Pakistan), August 6: Finance Minister Miftah Ismail warned that economic hardships would persist until September, due to rising inflation, high electricity prices, and the depreciating Pakistani currency.Whatever the status of the country, you will have to pay your share of tax, and I apologise for the challenges everyone faces, but my primary goal is to keep it from falling apart, according to Miftah.In a press conference after coming to power, the finance minister said the coalition government had taken difficult actions such as cutting subsidies and broadening the tax base, and had apologised to the businessmen involved, according to Geo News.According to the state-owned Emirati news agency, the initiative seeks to find new investment opportunities and areas for cooperation in projects across several sectors in order to develop bilateral economic relations in the best interests of the two countries....When I asked Gulf states officials to give us loans, they told me that we havent repaid their earlier loans.I am ashamed.

However, the government lifted the ban on the import of non-essential and luxury items placed earlier in May.Nevertheless, import restrictions on fully built-up cars, smartphones, and home appliances did not cease, and the foreign exchange reserves declined to USD 8,385.4 million as of July 29.The decrease, however, helped reduce Pakistan's exports by almost a quarter over the previous month and by 5.2 percent over the corresponding month of the current fiscal year, according to Geo News.