Pak 'begs' for IMF bailout, yet Sharif govt hikes funds for MPs | PKR slumps 4%

The Shehbaz Sharif government in Pakistan has come under fire for reportedly hiking the development funds of parliamentarians by 30%. This comes at a time when Pakistani Rupee fell to a record low. The Dawn reported that PKR continued to depreciate steeply in the interbank market, trading at 266.6 per U.S. dollar at 10:32 AM. It came down to PKR 11.17 or 4.58% from yesterday’s close. Cash-strapped Pakistan is battling with spiralling food inflation, decreased foreign exchange reserves and blackouts. Watch this video for more information.