How will Pakistan survive a crisis like Sri Lanka? Had to appeal to drink less tea

Posted on 11th Jul 2022 by rohit kumar

Due to the deep economic crisis in Sri Lanka, there are situations of civil war. A crowd of thousands is sitting at the house of President Gotabaya. People are sitting on the streets and even the security forces are not able to control the situation. A debt of global institutions, reduction in exports, almost exhaustion of foreign exchange reserves, and severe inflation have worsened the situation of the country. This decline of Sri Lanka, which has been achieving growth in the first decade of this century, is a matter of concern. In particular, concerns are being expressed about Pakistan, another neighboring country of India. Pakistan also somehow saved itself from being a defaulter in repaying the loan.

 

Recently he got a loan from IMF. Apart from this, China has also given a loan of $ 2.3 billion to Pakistan. Recently, there was also a report that instead of the loan, Pakistan can hand over Gilgit-Baltistan, part of Jammu and Kashmir province, to China, which it has illegally occupied. Gilgit-Baltistan is a part of the Indian province and Pakistan has already handed over a part of Aksai Chin to China. In such a situation, if there is an economic crisis in Pakistan and a situation like Sri Lanka arises, then it will be a matter of concern for it as well as the neighbors and the superpowers of the world.

 

Fuel and electricity prices skyrocketing

 

Pakistan has to buy petrol and diesel at expensive rates as it is unable to get oil from Russia like India due to fear of US sanctions. Apart from this, foreign exchange reserves are also decreasing continuously, there is also a decrease in exports. In such a situation, Pakistan also seems to be standing on the verge of economic ruin. But the state of disorder in Pakistan will be a matter of concern for the world. The reason for this is the presence of the Taliban in the country, nuclear weapons, and the dominance of radical forces in the country. At present, Pakistan is struggling to avoid such situations. On one hand, there is a demand for a bailout package from IMF, while on the other hand an appeal is being made to the public to pay higher prices of electricity and fuel.

 

How China's help is not the end of the crisis, but the beginning of a bigger problem

 

In June, a Pakistani minister even appealed to the public to drink less tea so that the import bill could be reduced. Even though he has brought a loan from China to avert the immediate crisis, it is being said that this too is only the beginning of a long problem. The reason for this is also considered by the experts of global affairs, the example of Sri Lanka, where the country was seen to be suppressed under the burden of debt taken from China. On the one hand, China gave a lot of loans to Sri Lanka in the name of infrastructure, while its influence also increased. From economic matters to foreign policy, Sri Lanka was paralyzed. The result is in front of the world in the form of a helpless and financially poor Sri Lanka.

 

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