Due to a surge in price and shortage of wheat flour, a large number of people, including traders and shopkeepers staged protests here, The News reported on Wednesday.
The fresh drop came after the government failed to make any headway in its talks with the International Monetary Fund (IMF) for the revival of its stalled USD 6.5 billion loan programme.
People on Sunday protested over rising flour and other vital commodity prices in a number of Khyber Pakhtunkhwa cities and demanded that the government take immediate action to regulate prices and guarantee the supply of daily-use food products in the province, Dawn reported.
FPCCI former president and BMP Chairman Mian Anjum Nisar has said that the number is likely to drop further amid debt repayment obligations of more than USD 8 billion in the first quarter of 2023.
According to sources, the development left Pakistan with an import cover of only under a month, as the country grapples with a deteriorating economic crisis while trying to bring down imports amid a dollar shortage.
Amid a slump in the country's exports due to the shrinking economy, Pakistan Prime Minister Shehbaz Sharif has formed a committee for which he has sought recommendations, ARY News reported citing sources on Thursday.
Pakistan citizens are left to bear the brunt of rulers' failed policies that resulted in historic inflation, jacked up petroleum prices, and devalued rupee, as well as warnings of impending bankruptcy among other things, reported The Express Tribune.
The party started its protest drive from Gujranwala on December 31. Major protest rallies would be taken out on January 1 in Lahore from Azadi Chowk to Choburji Chowk, Multan, Rawalpindi and Faisalabad.
Despite acknowledging that there were problems with the economy, Pakistan's Finance Minister Ishaq Dar assured investors that "there is no way Pakistan is going to default."