{"id":553287,"date":"2023-02-06T12:39:04","date_gmt":"2023-02-06T07:09:04","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=553287"},"modified":"2023-02-06T12:39:04","modified_gmt":"2023-02-06T07:09:04","slug":"oil-industry-in-pakistan-on-verge-of-collapse-amid-liquidity-crisis","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-industry-in-pakistan-on-verge-of-collapse-amid-liquidity-crisis\/","title":{"rendered":"Oil industry in Pakistan on verge of \u2018collapse\u2019 amid liquidity crisis"},"content":{"rendered":"<p>Oil companies in cash-strapped Pakistan have warned that the industry is on the &#8220;brink of collapse&#8221; as the dollar liquidity crisis persists and their cost of doing business balloons due to the rupee&#8217;s devaluation.<\/p>\n<p>The government removed the dollar cap to meet the International Monetary Fund&#8217;s (IMF) demand which resulted in the Pakistani rupee falling to a historic low of Rs 276.58 in the interbank market, according to a Geo News report.<\/p>\n<p>The IMF has set several conditions for resuming the bailout, including a market-determined exchange rate for the local currency and an easing of fuel subsidies, both conditions which the government has already implemented.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil companies in cash-strapped Pakistan have warned that the industry is on the &#8220;brink of collapse&#8221; as the dollar liquidity crisis persists and their cost of doing business balloons due to the rupee&#8217;s devaluation. The government removed the dollar cap to meet the International Monetary Fund&#8217;s (IMF) demand which resulted in the Pakistani rupee falling to a historic low of Rs 276.58 in the interbank market, according to a Geo News report. The IMF has set several conditions for resuming the bailout, including a market-determined exchange rate for the local currency and an easing of fuel subsidies, both conditions which [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-553287","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/553287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=553287"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/553287\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=553287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=553287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=553287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}