Pak faces ‘paper crisis’, students may not have access to books until new session OCN NEWS

Pakistan’s paper association warned ahead of the new academic year starting in August 2022 that books would not be available to students, citing a paper crisis in the country, news agency ANI reported.

According to the report, the paper crisis could be attributed to global inflation, but in Pakistan it is probably due to poor economic policies of Pakistani governments. He also said that the monopoly of local paper industries was also to blame.

The announcement was made during a joint press conference addressed by the All Pakistan Paper Merchant Association, Pakistan Association of Printing Graphic Art Industry (PAPGAI) and other organizations associated with the paper industry.

Pakistan’s leading economist, Dr. Qaiser Bengali, also spoke at a joint press conference. Quoting local media, the ANI news agency said that due to the severe paper crisis in the country, paper prices have skyrocketed. Paper is currently so expensive that publishePKR is unable to determine the price of books.

For this reason, textbooks and school boards in Sindh, Punjab and Khyber Pakhtunkhwa cannot print new textbooks for the upcoming school year.

Pakistan is reeling from an economic crisis and the IMF helped the Shehbaz Sharif government earlier this week by reinstating the stalled $6 billion bailout package and releasing dooPKR for funding from other international sources. , reported the PTI news agency.

The Pakistani government, however, in the financial year 2022-2023, is to generate PKR 43,600 crore more taxes and gradually increase the petroleum tax up to PKR 50 per litre.

Pakistan’s dwindling foreign exchange reserves will receive a further boost as it allows immediate access to $1 billion which it can use to purchase fuel and other necessary imports.

Pakistan will also impose a poverty tax on businesses earning PKR 15 crore (1%), 2% on those earning PKR 20 crore, 3% on more than PKR 25 crore and 4% on PKR 30 crore and above.

Following the recommendations of the IMF, the government led by Shehbaz Sharif will revise upwards the annual tax collection target of nearly 42,200 cr PKR for the year 2022-23. The government has also scrapped wage and supplementary pension provisions, freeing up another PKR 20,000 crore.

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