Prime Minister Imran Khan Niazi, who came to power promising to create a new Pakistan, has fully prepared to trap the country in the debt trap. The situation is that Imran Khan must also promise the identity of his country’s founder, Mohammad Ali Jinnah. Pangal Pakistan must now borrow to repay its debt. This Pakistani Pakistani is now leading on Twitter and people are saying Pakistan is going to become a colony of China.
#PakBecomingChineseColony tops Twitter. Not only that, people give the reason for the Sino-Pakistan economic corridor and the corruption that has spread there to become the suburb of Pakistan. In fact, due to the bribery of Chinese companies with the help of the Pakistani army of CPEC, questions now arise about this whole project. Previously, this project was around $ 46 billion, which has now grown to around $ 87 billion.
This is why many experts are raising the question that Pakistan should not again become a slave to China like British rule. Pakistan, which is facing a serious economic crisis, is on the verge of bankruptcy. The remaining Pakistani economy has been shattered by the Corona virus. Pakistan, which is on the threshold of Bengali, has again contracted a new loan of 1.2 billion dollars (Rs 87.56.58.00 000) to operate its economy. With this new amount of debt, Pakistan has so far raised new borrowing of 5.7 billion dollars (4 16 01, 73 50 000 Rs) during the first half of the current fiscal year.
Saudi Arabia and UAE also requested Pakistan loan
At the same time, Prime Minister Imran Khan blames previous governments for the country’s crisp economic conditions, even after leading the government for two and a half years. The situation has reached such a point in Pakistan that even the Imran Khan government has to be manipulated to pay the salaries of government employees. Pakistan’s biggest “donors” Saudi Arabia and the United Arab Emirates are looking to repay their multibillion-dollar debt. At the same time, China, Pakistan’s eternal friend, is also reluctant to give loans to Pakistan.
Pakistan takes loans at expensive interest
Pakistan’s Ministry of Economic Affairs issued a statement indicating that in July-December of fiscal year 2020-2021, the Imran Khan government received $ 5.7 billion in external debt from several funding sources. In December, the Pakistani government received $ 1.2 billion from abroad, of which $ 434 million was taken from commercial banks at high interest.
Imran Khan blames previous governments
Pakistan’s total debt rose 11.5% year-on-year to Rs.35.8 trillion at the end of 2020 due to poor economic reforms by the Imran Khan government. After which the Pakistani Ministry of Finance, while putting its own mistakes on previous governments, said that due to poor economic policies of the previous government, the country was faced with an excessive exchange rate and excessive borrowing.