Two billion charity, why China will not let Pakistan sink?


Pakistan is central to increasing China's dominance in South Asia, as China seeks to establish itself as an alternative to America

For the third time in a short span of a month, China has saved Pakistan from the brink of bankruptcy. Last week, China gave 500 million dollars to Pakistan. At the same time crude oil has also been given so that the foreign exchange of Pakistan is not spent in the purchase of crude oil. Before that, in early March, a Chinese bank gave 700 million dollars to Pakistan. Why is China so kind to Pakistan?

When Pakistan's economy is in dire straits and Shahbaz Sharif travels around the world begging with a pan, China has again come to Pakistan's aid. China has given Pakistan 2 billion dollars i.e. about 16 thousand crore rupees as rollover. The government of Pakistan has turned to the International Monetary Fund (IMF) for financial assistance. One of the conditions imposed by the IMF was that Pakistan keep a certain amount in its central bank so that if Pakistan reneges on the conditions, the IMF can recover its money from that amount.

Pakistan's foreign exchange reserves are depleted and there is no way to earn fast. No country in the world is willing to give footy code to Pakistan, so it seemed that Pakistan would be ruined, but China has saved Pakistan. Rollover means that Pakistan will keep this amount as a deposit in its main bank for one year. Not even a single dollar will be used and will be returned to China at the end of the year.

China has done Pakistan a huge favor by rolling over. This is the third time in a short period of one month that China has come to Pakistan's aid and saved it from going bankrupt. Earlier, when Pakistan's foreign exchange reserves were on the verge of being completely depleted, China gave Pakistan 500 million dollars. This is from last week. At the same time crude oil has also been given so that the foreign exchange of Pakistan is not spent in the purchase of crude oil. Before that, in early March, a Chinese bank gave 700 million dollars to Pakistan.

Thanks to China, Pakistan currently has $4.8 billion in foreign exchange. A country with a population of 20 crores and dependent on foreign countries for most of its needs has a foreign exchange reserve of $4.8 billion. the thing is

Thanks to China's help, there is hope that Pakistan can now take an installment of $1.1 billion from its package from the IMF. In 2019, the IMF had approved a bailout package of $6.6 billion for Pakistan, but after the Pakistani government defaulted on the terms, the IMF stopped disbursing the remaining installments. Now that Pakistan is willing to accept all the terms of the Nakliti strain, the IMF may be able to help now.

The agreement between Pakistan government and IMF will be known in two-four days but China's last minute help is a proof that China will not let Pakistan sink. Pakistan's economic condition is very bad and despite the doubt whether Pakistan will return the help it received from China, it is clear from the fact that China continues to lend Pakistan, that China is interested in keeping Pakistan afloat rather than letting it sink.

China does not want to let Pakistan sink because Pakistan is central to increasing China's dominance in South Asia. China is trying to establish itself as an alternative to America. For that he has to make most of the countries in Asia towards him because Europe and America are one. China has made huge inroads in South America and Africa and has won over a number of countries but the biggest challenge is in Asia as India is a country with the strength to challenge China.

Arab nations in Asia were with America for years, but China has gradually started to turn them towards itself, but China cannot turn India towards itself, because India has the ability to challenge China's strength on the economic front. India has huge manpower so India can destroy China's manufacturing supremacy. Because of this, China is not interested in good relations with India, but wants to break the dominance of India by turning the countries around India towards itself. Pakistan has been anti-India for years, so China has taken Pakistan under its wing on the basis that the enemy is the friend of the enemy.

China's support to Pakistan is very limited. China is a country with an economy of 19 trillion dollars while the total GDP of Pakistan is only 367 billion dollars. It doesn't matter if China donates 2-5 billion dollars to Pakistan now. Even if one of Kankhajura's legs is broken, what happens? Considering that China pours more than five hundred and a half billion dollars of goods into America alone, China is capable of helping Pakistan as much as its entire GDP.

China is increasing its strength by keeping Pakistan at hand. India has to be careful considering that it is protecting its interests in the long run.

-Pakistan doesn't even have money to hold elections

Elections are to be held this year for the formation of a new government in Pakistan, but the Ministry of Finance does not have any money to go to the elections, so there is uncertainty about whether the elections will be held or not.

Defense Minister of Pakistan Khawaja Asif officially admitted that Pakistan does not have money to conduct elections.

Election 2023 in Pakistan is decided to be conducted with Electronic Voting Machine (EVM). Due to this, the expenditure of 42,400 crore Pakistani rupees was estimated in the elections. Now the cost of EVM is to be forgotten. Even after that, about 15 thousand crore rupees have to be spent, but Pakistan does not have that amount.

The term of the National Assembly of Pakistan ends in August this year. According to the constitution of Pakistan, a new parliament has to be formed within 60 days of the expiry of the term of the National Assembly. To comply with the constitutional provision, elections should be held by the end of October at the latest and all members of the new parliament should be sworn in. From Khawaja's point of view, there is doubt about this being possible. In this scenario, the option remains that all parties have to form a national government or Parliament gives the Shahbaz Sharif government the power to rule for another six months. Considering that Imran Khan has taken the field against Sharif with his arms raised, there is also doubt about such a resolution in the Parliament.

- Petrol-Diesel hundred rupees expensive for the rich

While the condition of the common people is worse due to the rising price of petrol and diesel in Pakistan, the Shahbaz Sharif government has announced a scheme to collect more money for petrol and diesel from the rich people. Currently, petrol and diesel are sold at Rs 300 per liter in Pakistan. The Sharif government wants to sell petrol-diesel to rich people at Rs 100 more i.e. Rs 400 per litre. Luxury cars will be charged higher prices while smaller cars will get petrol-diesel at market prices.

It has been announced that the additional 100 rupees received per liter will be used to provide petrol-diesel subsidy to the poor. The poor will have to buy from the petrol pump at the market price but then the amount will be given back to them in the form of subsidy.

The International Monetary Fund (IMF) has objected to this announcement. IMF says that the scheme has been announced without discussing with us. There is also a condition to stop all subsidies in the terms of the IMF, so it is alleged that Pakistan is violating the terms till now. The Pakistan government says that this is not a subsidy but a relief scheme, so there is no violation of IMF conditions.


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