to silver has blamed his previous job, both to narrow and has pledged to help him. no, i will have a week that said, if we will take very seriously the task of ending little gold mining and even if it's an authorized area for research, they can do research without destroying the water, the forest, and risking the lives of people that depend on that water to survive, but for now, you know, mommy, parents are hoping their children will get better and they can once again return to the lands and live freely. i said bake g 0. ah, this is al jazeera, these are top stories. his roles prime minister benjamin netanyahu has announced a series of measures following 2 gun attacks. they include demolishing the homes of palestinians, involved in making it quicker for israelis to get a gun license. james base house more from west jerusalem. they certainly found

striking things that they've done in the past, so it means that houses which had been demolished in the past, maybe demolished very quickly. now the houses were talking about not just the houses of those suspected of carrying out the recent attacks. they are houses which their families live in. and so these measures i think, are going to be seen by many in the international community as revenge tactics and collective punishment. demolishing of houses the expulsion of some of these families and friends of those suspect who, carrying out the attacks, expelling them from jerusalem. he was railey settlers, have broken into palestinian home overnight and set it on fire. happened in the town of tore messiah, nor the from allah. in the occupied west bank aaron's ministry of defense says a military workshop in the city of his hon. has been attacked by drones. said air defenses repel the assaults on saturday night. the workshop ripples damaged, but the complex is expected to continue operating. tennessee is holding

a 2nd round of parliamentary elections. the 1st one in december. so few of the 9 percent of voters casa ballads. your position boy caught on that vote saying president, case moneyed had lost his legitimacy, the u. k. prime minister, where she soon, icons fired the conservative party chairman from his government. the move comes off to investigation into nadeem. the hallways tax affairs found that he seriously breach minister or rules when he was chancellor. at least 40 people have been killed in southwestern pakistan on a bus fell from a bridge, supposedly carrying 48 passengers when it hit a pillar and plunged off the road. it had been traveling between boot stones provincial capital, and the southern port city of karachi riley has been held in between a fossil capital to celebrate the withdrawal of french troops. frances foreign ministry said earlier this week its forces would lead within a month off to

a request from the countries ministry rulers. french forces were deployed back in 2018 to help fight arms groups. the critics say they haven't done enough those or you had lives. the news continues here now to sierra off the inside story . stay with us. there is no channel that covers world views like we do. the scale of this camp is like nothing you've ever seen access to health care. what we want to know, how do these things affect people? we revisit please state even when they're no international headline. is there a really invest in that? and that's a privilege, as a journalist, pakistan's economic crisis is worsening with the ruby sinking to record lowe's against the dollar. the i m f is sending a team next week amid a stand off with the government over reforms. so how is this crisis affecting pakistan's people and what does the future hold?

this is inside stored. ah hello and welcome to the program i'm fully back table. pakistan's economic crisis is deepening where the ruby this week hitting its lowest level on record. again, c, u. s. dollar foreign exchange reserves are running out, the state is holding only enough to pay for vital imports such as your for another $3.00 weeks. the i m f has cut our funding in a stand off with the government over reforms that money in the country needs to keep going and i left team will visit next week for what are expected to be tough talks. now all this comes as the country is reeling from its most devastating floods in living memory. it faces deep political divisions to, along with high inflation during an uncertain global economic climate. or be

looking at what's behind the crisis with our guest. but before that, i correspondent, come, i'll hider has this report from islamabad on our people. there are feeling it's another day, i guess, lama vod friday bazaar. as people go around shopping or 10 shells, good bye david. bad news on the economic front. the buckets on a repeat the number again, the us dollar by almost 10 percent. and that to, from a government bridge was promising to bring change of august on, according to the financial times, the countries on the brink of collapse and economic crated rates could be comparable to what happens to a lung which ran out of foreign exchange market on foreign exchange in all time low and the country is trying to negotiate with the i, m f, which after the evaluation of the ropey, had to come to budget on your discussion conditionality,

to resume that bailout. factored for budget on by the government won that money will not be enough to address budget on key it can now make problem. industry is shutting down because energy costs have been going up. and for the fort regarding the bank, opened ledger credit regardless of a cure shortage of foreign exchange, particularly us dollars. we've been speaking to people on the ground. and this is what they tell us valid point. so probably it didn't where it was earning 500 rupees a day. even then i was happy as things were affordable. but now even if i'm earning 3 times that still it's hard to survive. the prices of beyond the reach thought i'm push on among both buyers and sellers are too high inflation look at the devaluation that will be obviously the increase the patrol prices and other commodities. unfortunately, the total failure, the current government and wrong policies which brought the country the difficult one is the valuation of the rope, a red head, the paper hard dead,

already struggling to survive the central commodity. and they of course, will be preventive because of the knock on effect on the prices of resent july terms, bugger, thought, importing. we'd reduce their berlin with john driebe regarding your charges. and both of gods will mean that every year central got more to be real fear, bryce, i something that the people of fog a thong can ill afford or pakistan has been hit by a series of sharks all contributing to it secret army problems the worst floods in living memory killed around $1700.00 people with wide spread devastation costing around $30000000000.00. there's deep political division to prime minister chabarise sharif and his predecessor him ron khan, who was ousted in an o confidence vote. blame each other for the crisis. power outages to save money have caused chaos and hit businesses the fates, foreign exchange reserves have chung to just over $3.00 and

a half $1000000000.00. ah, well, let's bring in our guest. now for today's show from is lamar bought the law for a fredy kazi, she is a disaster management professional from p shower at tar alisha political analysts in a former secretary to pakistan's government, home and tribal affairs department. and also in islamabad, abbey, her son and economists, and a former advisor to the world bank. welcome to inside story. thank you so much for joining us. mr. abbot hassan in islam. about if i can start with you, what led to such a significant drop in the value of the pakistani ropey? and what does it mean for a country that's already facing multiple crises? i mean, it's her culmination or following donovan or policies, economic policies or sleepers can foreigner to monitor your change, ordered order. moving through ford records saw the last one bigger than

a half knowledgeable people. one is here and lives have been i think about date of his speaking about that unless the forms take place. park is one is headed for a crisis. and surely this was predicted. now the thing is, if you look back 30 is the crisis was every 5 years, the duration or the crisis has been narrowing shortening, and the magnitude has been increasing. so now, i mean, even if the i'm, if, what to be let out and that you will probably have another crisis in 2 years or even less than that. because the whole economy is not hard wired for a boom and bust cycle, right? so unless we have deep reforms, which will be painful, we will have another cry says, i don't know in 12 months,

18 months despite the i'm a program. but just looking at the more recent crisis and the plunge of the rope pakistan abandoned control of its control of its currency in order to meet the demand right, to liberalize the exchange rate. will that be enough to bring the i m f on board in your opinion now and get this bailout going? i think one of the fundamental pillars of any i'm a program is they should not be a multiple exchange policy. and buckets on a 3 exchange rate, somebody last 9 months. i think that was a bad policy. so clearly, i mean, it seems that the government has decided to unify the exchange rate and make a market best. the other it is for decades focus on was following a very bad pricing policy on energy, even though most of energy is imported. we were selling it to below import costs. we were selling it at below production costs then for at least 2 decades. the i'm

and the bank i've been pushing pockets on to rationalize energy prices. i think that the 2nd thing on the table, which they've been require focused on to adjust energy prices. and of course all of these things will lead to inflation. the key thing here is that at this point in time, it's a bit like cancel. anything that has no treatment without pain. so the important thing is, and the i, m f continues to sort of press any country and that, that look what needs to protect the poor from lots of income or high inflation. and there's ich must be a large burden of that been ok. and that's the important thing that one hopes that the government or the day and the political system and the key stakeholders able to figure out the program that protects the poor. why having the rich pay for

the burden. all right, no fair in islamabad, you have to day more than 9000 containers that has got boards which are carrying the essential goods. how bad is the situation today for the average pakistani citizen, how are people able to cope on a daily basis with the skyrocketing invasion? they're not. thank you for inviting me on the program. i would like to add to work a bit. hudson was saying the i am has been out is only a stop gap. the average pakistani is poor. and so the reforms that the i m f a suggest is suggesting is only for an injection for money, which will not actually feed the poor, which is the vast majority of boxed on ease. and the question that you have asked

of me and all the natural disasters that we have only might apply the existing are problematic in pakistan where the average person is unable to earn unable to pay taxes. unable to be self sustainable. in the best of times, let alone when there's an international crisis, etc. the question to be asked is in an agricultural, based on quantity in agricultural based economy? why are we importing essential goods? why have a, why have the international community and the government of pakistan which it follows its lead because it borrows. so my, why are the structural reforms that we are constantly being ost don't focus on fundamental reforms? not only the energy sector or tax sectors like the loan for who all new offer who

or what do you blame for the crisis? i believe the, the, the class that is the prominent ah, state managers of pakistan for the last 70 years. their priorities of where they want to invest in pakistan's economy while or t human development has resigned, did not the vast majority of this country cannot look after it says, and on the international aid, where that's i am mad by not through our stock gap measures. just as i'm in hudson just mentioned, where do we get the i m f or whether we get china or america b, e u 80 b to help us? that is just it stop gap for a one year to year. ok. does not address our investment, lack of investment in boxes on pakistan. me ok. i to alisha. let me bring you into

the conversation. as abby said, an economic crisis in pakistan comes around every few years. but this time around the internal political crisis and the recent flooding seems to have made things worse. to what extent are the political tension that tensions that we've seen, that the ouster or former prime minister in ron connie had no confidence hold. the protest that we've seen to what extent is the political instability shaping these economic problems? oh, certainly. oh, all or this get along b. i sal injured from mom is under gomez. hornby though was from artists. we color and bruce wanted me to do issue larger plumbers are tomatoes and long barbies, wendy, more than the people. dear, dear manifestos, greer. liam promises or turns all night to the people. oh, wendy,

on to the wall. up and up to date. this isn't gonna make a lot of dual element as it is defined and has a wind accommodation or just a really measurement off the been gone, been called. but it also includes a social and a letter, as mentioned by like him cause he. so if i'm gay lisa and chevrolet g o, naturally, so the, there wouldn't be strike, i strolled alms, then there will be just so when, so for supply and sharing, right, in the whole, on and on there really below promotions. so when conducive in modern is on race in wire fraud,

bombay cult. right. well what i ask you about the security situation, please. because it would seem that the pakistani taliban have been emboldened by a taliban vote afghanistan at nearby as to what extent is that a concern for investors today who are looking at pakistan? oh or so? where do we compare genesis compared to the last june? there is a surgeon as far as a diversity reduce went in august time. in particular. the problem result came up walking high and below, just thought as they are 1 dollar increasingly targeting the line force engines use. so now there is a lot of fear incentives on your b, m, among you, one of the general citizens and the business vandals, are prosperous. they are being turned in. and extortion falls on being

a given to them across the water. even if you want you c, d o d provincial assembly or province, there has been bizarre and according to the constitution, there was a requirement or do or do within 90 days. but so far, the government of habitable into the wall and the go on, we is under obligation under the constitution, but you know, sorry. okay, but it is andre, or that i the delicious. maybe it was for you to do it on maybe with in students on those on and grandma romans and i will get back to mr. ali act, i'll come back to the show of elections later because of course, the ron khan,

the former prime minister, wants election to be held. i'll come back to that in a moment, but i want to come back to the economic situation and ask me that i found in is i'm a bad weather. pakistan today is at risk of becoming another sri lanka, and defaulting i think her i would hate to say this, but the probability is very high unless immediately government is able to satisfy the i m f and they, they, they sort of dispersed the next trice. once the display has a $1000000000.00, then there are other bilateral countries, especially so the be china. maybe i don't know some countries who basically said yes, we will put in, put in a 1000000000 to 1000000000 once focus on, you know,

as i am a program, do you think the government isn't a better position? those will probably go up from the, sorry to interrupt you, but do you think the pakistani government is in a better position to, to comply with the demands of the i m f. is the government in a better position today to meet those demands? look, the thing is they've come in now they're sitting in the saddle. if they don't comply, and vargas on goes this elonka road. i think the chances of ever coming back into politics is 0. if they can play short enough, it will be painful, but at least there's some probability that in the when the election come around, they could still contest. ok. so from the government's perspective, i think for they they were kind of you know, i mean, the thing, all these changes hoping against hope that somebody will,

will build them out. and ultimately, you know, none of the family going to came forward. okay. did you and that was needed. ok, so my point is it's a bitter failed, but they'll have to swallow that. ok, now far, i want to come back to you and ask you more about the situation of the average pakistani citizen. and i know you've worked in flood affected areas you've been involved in the relief operations there. so i wanted, if you can, to you to tell us about give us concrete examples of how pakistani today are suffering. whether it's in big cities like is from a bad all the shower or whether it's in flood affected areas, how a people living on a day to day basis. ok, we focus on the flight affected areas, but the crunch is being sent up amongst a 99 percent of the country. the prominent bowers are,

and those who live off government subsidies, those who have enriched themselves over the last 70 years. they are insulated from the shocks of this country. but the average person and those who are affected in this round of knots 2022. don't forget, we also had slots in 2010, and then we all have the, you know, from flooding as well, which it doesn't capture the national or the international imagination. but since 2022 has to talk about god that has hit the most destitute parts of baluchistan. and since these 2 and a little bit of a k, p k as well. and i me of portion of southern punjab as with but of a vast majority that will hitler and sin and in baluchistan and in areas where the human development indicators are

a bisman ad my any standard by the national standard. but also the, a global un standard for living government of pakistan and the provincial government of fox don have led down these citizens for the last 70 years. the florida has only exacerbated it. so for example, women i have given birth without housing, they continue to remain without a roof over their head. children are without doctors, you have no hospital. the is not enough of medicine. you have high of malaria incidence, like 80 percent communities, 90 percent communities with a massive critical health care needs with absolutely no medicines, no doctors, no housing food insecure. there man. nourished well, i mean in really a write a lender yet let me ask in the law far, if the i m f where to put the money in today,

do you think it would get to the people who need it the most? no, it will not. and why do you think that is and how can we change? because the reason why is the location of so corn structural reform is focusing on areas which benefit primarily the upper and the middle class . in the urban areas, d, where government choose is not to invest in the social development sector and the human investment or human development investment that requires us to well up the average citizen. more than half this country is illiterate. this is a mighty generational investment that you need to develop. ok, that is not the concern of ins. okay, that is the concern of the government of parks on and not this government along the previous government and

a government before that and the government before that they are frankly bought off the problem. so it's a big no, they're probably okay, let me ask added our son. so what do you think is the way out for pakistan on our behalf and in what economic policy should the pakistani government adopt to address these economic difficulties? so i'm in, in the most major term, the only policy they need to do is a final d i m f, a sort of 5 form program in, in literature spinet. so they get image it in flaw or foreign exchange so that they don't default. and it, it in some sort of normalcy comes to the importation of goods. but beyond that, when i say beyond that, i mean in the next 6 to 12 months,

they'll have to address the whole issue of energy pricing because the, the energy sector is leading billions of rupees a day. and that's part of the reason disgraces. they've kept energy prices cheap, so when you places a cheap, you suck in more import. so you have to price energy, right? so that the demand for energy goes down and imports go down. so that's the next one . you see, the important thing is you can think medium term or long term if you're going to sink in the short term. so in the short term, the important thing is you don't think. and the only way to avoid thinking is you have to implement if i'm a program and letter and spirit, and then as you get a breathing space, i think the key stakeholders of this country need to get together and agree on a common platform of economic reform. ok, let me know that the thing will just keep coming back and on thing. yeah,

let me give the final word if i can get what, what is the way forward for pakistan for pakistan to avoid thinking. as i bade said that, and i know that the former prime minister in ron khan is pushing for elections to be held this year as soon as possible. the schedule for october will holding elections, change the direction in which pakistan is headed here. well, solution focused on and you should get all day yes, including the nations and run hans party's concern the day. was fun, jobs and haven't gotten the assemblies i haven't been on and no, there is a within the last edition of 2017.

0, really? in a, in 90 days? i'm sure the comments on our new ford dealership on 12 dash, all done. so you all are to my mind is blair. larry, give me a window. no problems. ok, i'm a nationalist certainty can be considered. our 1st and foremost is the election to the problem. sure. a while i was off on joe. ok. but he's alicia. are you in order to send a wrong signal or certain those will be in west shows or the war or the economy really sort of the social ok next b, i'm sorry to interrupt you, we'll leave it there. we've run out of time. unfortunately. thank you. so much for joining us today on this very important discussion. abby: hassan,

hello for fredy and side. dr. alisha. thank you for being on inside story and thank you too for watching. you can always watch this program again any time by visiting our website at al jazeera dot com for further discussion. go on facebook page at facebook dot com forward slash ha inside story. and of course you can join the conversation on twitter handle is that a j inside story from me fully back to point the whole team hearing doha, thanks for watching. bye for now. ah. when clouds of west struggle gives birth to a true passion,

where faith is more just with where humanity defies. expectations with freedom is always worth fighting. bold and untold stories from across asia and the pacific. 101 east. on al jazeera, we understand the differences and similarities of cultures across the world center might have when you call home, we'll put you can use in current affairs that matter to you. mm hm. ah, this is al jazeera. i'm darian abigail with a check on your world headlines. israel's prime minister benjamin netanyahu has announced the series of measures following to.