Pakistanis told to drink less tea amid economic crisis

The country’s Federal Minister for Planning and Development, Ahsan Iqbal, on Tuesday told reporters that Pakistanis could reduce their tea consumption by “one or two cups” per day as imports are putting additional financial strain on the government. “The tea we import is imported by taking a loan,” Iqbal said, adding businesses should also close earlier to save electricity. The South Asian nation of 220 million is the world’s largest importer of tea, buying more than $640 million worth in 2020, according to the Coming to terms with the mounting economic crisis has been a challenge for Sharif’s government. Last month, Pakistan banned the import of non-essential and luxury items to “control spiraling inflation, stabilize foreign exchange reserves, strengthen the economy, and reduce the country’s reliance on imports,” Information Minister Marriyum Aurangzeb told a news conference on May 19.Sharif at the time said the decision “will save the country precious foreign exchange” and that Pakistan has to “practice austerity.”At the end of May, the government lifted a cap on fuel prices — a condition for a long stalled bailout deal with the International Monetary Fund (IMF) to go ahead.Last week, the government unveiled a fresh $47 billion budget for 2022-23 in a bid to convince the IMF to restart the $6 billion bailout deal, agreed by both parties in 2019.