In the United States, US Ambassador Nikki Haley accused Pakistan of playing ‘double games’ and announced to bolster more than $ 2550 million, or more than $ 16 billion. Within just five months of Pakistan’s problems, the problems of crude oil and the rising bill of imports have risen to the surface.
In May 2018, the news of Pakistan’s foreign exchange reserves had decreased continuously, media reported. Khurram Hussain, a senior journalist from Pakistan’s newspaper, presented a picture of the current state of the economy.
They say, “The current situation is that Pakistan has been unable to fill the import bill of two and a half months. If foreign currency continues to fall and the situation goes down from the status of two months, then you can say It has become a serious situation, if the reserve remains for one month then there will be a situation of crisis. Many experts believe that if the measures are not taken quickly, then such situation can occur in three to six months. . ”
China supports Pakistan
In 2013, the International Monetary Fund had lifted Pakistan’s ‘bail out’ package. But then relations between Pakistan and the United States were deep.
In the current round of crisis, Pakistan is looking for the same country to help, it is China, it is China. Three years ago, China, which gave $ 46 billion in investment in the Pakistan Economic Corridor, meaning ‘Seepak’, has paid $ 5 billion to handle the economy in the current financial year and is ready to take on Pakistan even further.
but why? Senior journalist SD Gupta, who is present at Beijing’s capital Beijing on this issue, says that China is watching the difficulties of Pakistan as a chance.
“There is no double opinion that China wants to make Pakistan an economic colony, it has military reasons, India can be pressurized with Pakistan, the route of seepak goes to the sea and China needs to contact the sea.”
Problems because of China
Of course, China looks helpful, but many experts claim that China’s key role is to increase Pakistan’s current difficulties.
Referring to the reasons for reducing the foreign exchange reserves, Khurram Hussain says, “Pakistan’s imports are growing rapidly, there is also a big roll in import of machines imposed on seepak, import of consumer goods like oil prices and mobile There is also a roll. ”
The money sent by foreigners working overseas is a major part of Pakistan’s foreign exchange reserves. Khurram says, ‘that money is not even growing’. Many knowledgeable economists in Pakistan also feel that their country is stuck in the clutches of China.
Pakistani economist Dr. Qaiser Bangali believes that the interests of Pakistan have been overlooked in the agreements with China.
“The impact of China at this time is that the Pakistan-China Free Trade Agreement sign has happened since then, the imports from China in Pakistan have increased, but the exports did not increase, it was Pakistan’s mistake that they signed the agreement correctly It was a one-way agreement. ”
Like the Sri Lankan port, will Pakistan take possession of the port?
Heavy cost of debt
Around China, China is engaged in preparing the maze of debt. China’s help is to increase the burden on the economy.
SD Gupta tells Dawn newspaper that Pakistan has been given a loan at a rate of 18 percent. This interest rate is higher than the rate of loan from World Bank and Asian Development Bank.
The compulsion of Pakistan was that there was no other investment other than China. Sd Gupta says, “China’s trust is not in giving, China wants returns, no commercial benefits, they do not want a strategic advantage.” Today, China’s focus is to go to the Arabian Sea. ”
He says, “If they reach the Arabian Sea, then it is clear that Mumbai, Oman and Saudi Arabia will not be far away from them. Pakistan holds great importance for them. For this, they are ready to do the damage. If the entire 50 billion dollars is immersed, then there is no major loss. ”
Pakistan’s remote control will be China?
So what China wants to do after playing bet on Pakistan? Does he want to decide the policy in Pakistan?
Senior journalist Khurram Hussein points out that many experts in Pakistan are expressing such a fear. “There is also one thing that even if China’s debt continues to grow, China will be interested that Pakistan’s policy framework should be decided by this point of view that the payment of these dues will continue.”
Economist Dr Qaiser says that at present, China has not achieved the status of deciding the policy in Pakistan, but if dependence on it increases then circumstances can be difficult.
He says, “Whether it is an independent economist or editorial or columnist of the newspaper, all of them are very worried. Worry is that the direction of Pakistan’s economy is going in the right direction is not right.”
India can come from the fire!
SD Gupta’s opinion is that if China acquires the status of policy-making in Pakistan, then there can also be danger on the freedom of democracy, the media and the Supreme Court, and India may also feel the heat of it.
“If there is a bad day in Pakistan, India should not be happy, it will put pressure on India. If Pakistan rely on China and China decides Pakistan’s policy, then understand that China is sitting in Islamabad. India is harmful, India can deal with Pakistan easily, but not from China, it has come that India should re-look at relations with Pakistan. ”
Although, in partnership with Pakistan, China may look great, but not all the parts of the game are in his hands. In the words of the US, the ‘double game’ of the great Pakistan, Pakistan also has the ability to turn the backbone.
Senior journalist SD Gupta said, “China tries to put pressure on Pakistan, Pakistan’s efforts are to keep China in jeopardy. Today China is dependent on Pakistan. The success of belt and road across the world is in Pakistan only. Pakistan is a show-case for China, if there is any constraints in Parliament, government, army or the Taliban in Pakistan, then the hands of China will grow. ”
On the other hand, China does not want to show that he wants to control the sovereignty of a country by paying a debt. This can affect his interests from Nepal, Sri Lanka to Myanmar.
But even then economists and policymakers in Pakistan are instructing to be careful about increasing economic relations with China.
However, the situation on the ground is that in the election year, the situation of the economy between major political parties is not a big issue of debate.
Economist Dr. Qaiser points out that if there are political parties or experts, they expect that in the last three decades, Pakistan can also find a way out of the turmoil of difficulties this time.
He says, “Pakistan’s date has been such that we come back to the crater of crisis. If history continues to be the same trend then we hope that we will be able to come back from the shore.”
But SD Gupta warns that if it does not happen, then the cost of China’s debt will not only be paid to Pakistan, it will also affect the neighboring country like India.