Former interior minister Sheikh Rasheed said on Saturday that the coalition government, which had increased the prices of items of essential use even prior to the presentation of the federal budget, had now paved the way for further hike in their prices after levying taxes on fertilizers, natural gas and other items, reported 24NewsHD TV channel. 

In a statement, he expressed the fear that following drop in the forex reserves and foreign remittances, the country was going to default.  

He asked the nation to wait for over one month before it would start seeing the devastating effects of the imported government’s economic policies.

Reporter: Awais Kiani