Pakistan’s economic condition is witnessing a more steep fall with each passing day. The current situation can be roughly analysed by the fact that $1 is equal to 265 Pakistani rupees. So, currently, Pakistan is in a condition to become dependent on intergovernmental organisations and its allies. While India has barely shown an intention to bail out Pakistan, China seems to be more willing to provide the aid, and the US is busy with its foul play without looking at its own past records.
Pakistan gets aid from China
In a recent development, Pakistani Finance Minister Ishaq Dar announced that the Board of the China Development Bank (CDB) has approved a USD 700 million credit aid facility for Pakistan. This has been perceived by the USA as a threat to the security of the subcontinent. According to a senior State Department official, the US is deeply concerned that China’s loans to India’s immediate neighbours, Pakistan and Sri Lanka, will be used for coercive leverage.
Donald Lu, Assistant Secretary of State for South and Central Asia, while talking to reporters ahead of the India trip of Secretary of State Antony Blinken, said, “Concerning Chinese loans to countries in India’s immediate neighbourhood, we are deeply concerned that loans may be used for coercive leverage.”
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Lu further said, “We are talking to India and talking to countries in the region about how we help countries make their own decisions and not decisions that might be compelled by any outside partner, including China.”
China’s interest and US remorse
Talking about the aid, first of all, it is not just a donation; rather, it is a loan that needs to be paid back by Pakistan. There is no possibility that Pakistan would repay the loan to China, and China knows this too. So, this loan is basically given to transcend the fragility of the economic crisis to the political structure. But it is a well-known fact. The real issue here is the US position.
All of a sudden, the US is concerned about the misuse of funds by Pakistan. The main question that must be asked of the US is, “Why now? For more than two decades, the US gave unconditional aid to Pakistan because of its interest in Afghanistan. A major portion of that amount was used to propagate terrorism against India.
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The US knew that, but it still continued to drain money on Pakistan-sponsored terrorism. It is now, after the regime change in Afghanistan and the retreat of the US army, that direct aid to Pakistan has come to an end. But the US is a double-standard country. It is still indirectly providing aid to Pakistan. Back in September last year, it provided $450 million in aid to Pakistan to support its Air Force’s F-16 air fleet.
But as of now, maybe it knows that there is no future in going aside from Pakistan, and that is why it wants India to be more close. For that purpose, it looks like the USA is washing its sins away by giving India a warning about a possible threat.
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