Radio Pakistan suffering from severe financial deficit
Radio Pakistan's employees have not received their salaries for April, not only that, but the salaries for May and June are also in danger.
Radio Pakistan is suffering from a severe financial deficit due to which its employees are deprived of salaries, Pakistan vernacular media Nawa-i-Waqt reported. Nawa-i-Waqt is an Urdu daily newspaper in Pakistan.
Radio Pakistan's employees have not received their salaries for April, not only that, but the salaries for May and June are also in danger. Radio Pakistan serves as the national public broadcaster for radio in Pakistan.
The national public broadcaster does not have money to pay salaries and pensions to employees, and due to lack of funds, it cannot pay salaries to employees from April to June, according to Nawa-i-Waqt. Meanwhile, The Express Tribune recently reported that Pakistan's economic growth rate plummeted to 0.3 per cent in the outgoing fiscal year due to severe restrictions imposed on imports in an effort to avoid sovereign default, leaving the industrial sector crippled with spillovers on the services sector.
The 0.29 per cent growth rate is the lowest increase in the national output in the past four years exposing the mismanagement of the economy that is highly insufficient to meet the needs of 250 million people. Despite severe floods, the agricultural sector still posted 1.6 per cent growth, beating all forecasts of contraction due to a devastating impact on crops. The industrial sector contracted by 2.94 per cent, The Express Tribune reported.
But the services sector, the single largest sector in the economy, showed nominal growth of 0.9 per cent. (ANI)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)