“Seventy years into its life, Pakistan’s economy has seen many changes. Yet, it still remains without direction. To this day, we lurch from boom to bust as if stuck in a time warp.”
No doubt, the above-stated content possesses real and factual dimension of Pakistan’s economic conditions back from its independence.
However, we have now started an economical project which is the China-Pakistan Economic Corridor (CPEC), $57 billion Chinese investment in Pakistan, to boost our economic growth. Yet still the critical problems have multiplied, hindering Pakistani economists to find an economic direction. IMF has warned that Pakistan will have to return those loans after the corridor begins generating revenues. Besides, most of the lawmakers of Pakistani Senate are showing fear that CPEC could turn into another East India Company if the country’s interests are not practically considered.
On one hand, Pakistan has to payback a loan worth of $90 billion to China within 30years, which is really a challenging task for Pakistan. If the Chinese investments in Pakistan go useless, Pakistan would be left with a begging bowl. Thus, it is crystal clear that the country will bear the unwilling CPEC-related issues in the foreseeable future. Undeniably, Pakistan has yet not found a required economic direction.
Shikarpur, August 30.