PAKISTAN ECONOMIC CRISIS

INTRODUCTION

Pakistan. The word Pakistan means "Land of Pure" the name given by India where P is from Panjab, A is from Afghanistan, K is from Kashmir, I is from Indus, S is from Sindh and TAN is from Baluchistan.
But the situation Pakistan is going through now has never been faced before. There has never been such a famine before. All shops, markets, shopping malls are closing by 8 o'clock at night. The people of Pakistan are being asked by the Pakistani government to consume less tea, because they don't have the money to import tea and they don't have the power to enforce the paper cups with which tea is consumed. In just a few days, Pakistan's currency fell by 40 percent to US$267.89. Pakistan's forex reserves fell to US$3 billion, equal to Sri Lanka's. And the surprising thing is that despite Pakistan getting AID, this situation has happened.

ROUTE CAUSE OF PAKISTAN

Pakistan was named by Chowdhury Rahmat Ali. And he was named after different parts of India. When Pakistan was separated 1/3rd part of military Pakistan got. and received 17 percent of overall resources. But economic control was with India. Even then the economic condition of Pakistan was not good but the military condition was good. At that time, Pakistan's political leadership was not as strong as India's. India had like Jawaharlal Nehru, Sardar Vallabhbhai Patel, Gandhiji, but Pakistan had no such strong political leader except Mohammad Ali Jinnah. So far no strong leader like Mohammad Ali Jinnah has come yet. Because Pakistan has been under military rule for most of the time, there have been 39 Prime Ministers so far, but none have completed their 5 year tenure. Which prime minister has ever been arrested, ever killed but still their agency has not found who? Killed their chief ministers. Former Prime Minister Imran Khan was shot at a public rally but their agency is yet to find out who, why or for what purpose he was killed.
After 1947 they had no way to make Pakistan economically, neither they had any good import export business, nor they had any good political power and in those days it was very difficult to grow economically without political power. At that time there were two powerful countries, 1. USA and 2. Soviet Union (Russia) . But at that time USA and Russia were not on good terms, they needed someone who stand up against Russia for them. India was not because India had good relations with Russia since then, so they chose Pakistan as an alternative option . So since then USA sometimes started giving Pakistan a lot of money and arms and ammunition sometimes they send that money as AID or to Human Rights. That's why Pakistan took this money and started their terriest training center in Afghanistan, thus different groups were formed there like Lashkar-e-Taiba, Lashkar-e-Jhangvi, Mujahideen and America sent money to Pakistan to form all these groups. That is why whenever there is a war, America does not attack them directly, but attacks them through all these groups. Because if there is any harm, they will not be harmed, and they will not have to answer to anyone. The money from America would go to the Pakistan military and all these companies would build Pakistan's military and their Military Chief.
So now the question can come that despite getting so much money, how did the economic collapse of Pakistan? There are many reasons, one of them is that all the money that the USA was sending to Pakistan as AID that was reaching Pakistan's military, but this money was not coming to the government of Pakistan due to corruption. And on the other hand, the common people of Pakistan were angry that their people were being used for war in other countries for a small amount of money. If the USA had not created this group, and gone directly to war against Russia, this war would have been a Russia-USA war.
Pakistan's situation worsened when the 1989 Afghanistan war ended. The government of Afghanistan was then overthrown and the Taliban ruled the place. After the 1989 war in Afghanistan, the Mujahideen were no longer needed in the USA. In 1989, the US provided US$452 million in AID, which rose to US$5.4 million in 1998. While other countries India, Bangladesh were increasing their economic through their export import business, while Pakistan was keeping their economy alive with the AID given by the USA.
When al-qaeda attacked America on 9/11, America was a bit shaken, while al-qaeda was more active on the borders of Pakistan and Afghanistan. Again America needed Pakistan and this time USA made coalition support fund from which Pakistan got a lot of money. On October 15, 2009, the Karry-Lugar Bill Act was passed. It authorizes the release of $1.5 billion per year to the government of Pakistan as non-military AID from 2010 to 2014. With this money, they started using it to strengthen the military and economic. Not listening to the American, they started training mujahiddin as they wanted and sending them to Kashmir. The US then accused the Pakistan Army of corruption and embezzlement, and said it misappropriated US-provided AID. Despite continuously giving AID for so many years, they saw Osama bin Laden captured by Pakistan and Taliban leader : Mullah Omar died in hospital in Pakistan. After Donald Trump came, this AID stopped. With this AID stopped, their economic condition became very bad, big industrial businesses started leaving, factories closed, tourism sectors ended.

CHINA ENTRY INTO PAKISTAN

When America stopped giving importance to Pakistan, China took its place. There are many countries who used to focus their economy on agriculture, business, IT sector, and Pakistan on the other hand used to run their country with money and loans from America. Here the question may come that why China expressed so much desire on Pakistan? The reason for that is India because as long as India is stuck with Pakistan, the Chinese will be able to work on other issues. Like building dams on Brahmaputra river, making various nuclear weapons, and many other scientific researches etc. And to confuse India, China built nuclear plants in Pakistan and some analysts also believe that China helped Pakistan develop nuclear weapons. And China helps through death trap policy on Pakistan to help. Death trap policy is a type of policy through which China gives loans to different countries to make something in that country and they can only use Chinese workers to make those things, thus they recover their loan money through business strategy but on record that loan remains and if the country does not pay the loan in time then some part of the country remains with them for 99 years.

Work on the China Pakistan Economic Corridor (CPEC) under the BRI between China and Pakistan began in 2015. China has loaned Pakistan more than $30 billion. Pakistan knows it can't take it back and doesn't want to. This CPEC is a death trap economy. And that is what IMF tried to convince Pakistan many times, even former Prime Minister Imran Khan also tried to convince many times and finally he stopped this CPEC. Due to the closure of this project, they suffer a lot of financial loss. And to cover this loss they again borrow from other countries. Pakistan is a country that has built its economy on national debt and to repay one country's debt, it borrows from another country.
Pakistan Army had the most emphasis on security and foreign policy, that's why they made the Prime Minister of the country who followed the opinion of the Pakistan Army. And those who do not go according to their wishes, they remove from the post of Prime Minister. Pakistan army is the only army in the world that sells oil, meat, corporate enterprises, insurance companies, television channels, cement, farm schools etc. The army also controls real estate in Pakistan, so when a senior army officer retires, he is given plot after plot. Pakistan Army's net worth is more than 10 billion pounds, so their children go abroad for education. And each of them lives in a place like UK. Pakistan military has separate foundations like separate foundation for air force, separate foundation for navy and separate foundation for army among these three forces army's military fauji foundation is the largest. Even the bread that is made in Pakistan is made by the army, 1/3 of the major industries in Pakistan are run by the army, and the Supreme Court and the media are controlled by the military. Military foundations created by the army and the Indian Army also enjoy many exemptions from income tax.
A Pakistani author Ayesha Siddique in her book “Military INC” has highlighted how Pakistan military is diverting money of other countries among themselves.
If the net worth of Pakistan General Qamar Javed Bajwa's entire family is seen, then it stands at 12.7 billion Pakistani rupees, then how can the army general of a country that is so poor own so much money?
General Bajwa made Imran Khan the Prime Minister of Pakistan. Imran Khan instead extended the tenure of General Bajwa. Later general bajwa wanted to give general post to asim munir, but prime minister imran khan didn't like it and he wanted to give general post to faiz hammed because of his wish general bajwa removed imran khan from the post of prime minister and made shehbaz sharif prime minister, and later shehbaz Sayed Asim appointed Munir as Army General. Because of this, political incapacity has become in Pakistan.
As the work on CPEC stopped, Pakistan's power plants became vulnerable. And the rest of the powerplants that fell do not supply power to the whole of Pakistan, that's why Pakistan's power cards are having problems from time to time. If the problem needs to be fixed then the work of CPEC has to be restarted. And on the other hand, Pakistan's forex reserves are about to end. For example, other countries have gold or dollars in their forex reserves, so that it is useful to buy something from other countries because dollars or gold can easily move across countries. But Pakistan they keep Pakistan Rupees as forex reserve in their case which can only be used by Pakistan it will never be acceptable to buy any goods from other countries. And when Russia and Ukraine were at war, the price of oil increased in all countries, but India survived because India bought oil from Russia at a discount price, but it did not work for Pakistan, so they faced a crisis.

IMF ROLES

After facing danger, World Bank has taken loans from IMF many times, in both cases, Pakistan has taken loans about 12 times but they have not been able to repay them yet. Now it is said that these two organizations, IMF or World Bank, give loans in some cases, IMF gives loans only when a country is facing danger. Then with that money they face danger. And the World Bank gives loans for development work in a country, it works as a kind of business loan. India has also taken loan from World Bank many times for railway development structure and when there is good income from Railways they will return it back to World Bank. IMF also gives money to India because India is in the top 10 in terms of IMF giving money. Pakistan asked for money from IMF but IMF will give money only when the country complies with IMF terms and conditions, IMF asked Pakistan many times to raise gas prices to increase their oil prices but Pakistan did not comply, IMF many times asked to see documents of Pakistan military that , How can the army of a country become the owner of so much money but that country is becoming poor day by day? But they did not show any of those documents to the IMF, they did not follow any terms and conditions of the IMF. That is why the IMF has decided not to give loans to Pakistan. And Pakistan sometimes avoids IMF when it comes to loans, and sometimes it is often heard that some country has given funds to Pakistan, because in many cases they take the money by making secret deals with that country.

INDIA & PAKISTAN RELATIONSHIP

In some cases, Pakistan also wants to have good relations with India, because then there will be better political stability and better trade. But political analysts feel that the Pakistani army never wants that, because if the relationship between the two countries improves, the budget of thousands of crores of rupees taken in the name of the army may be questioned. So whenever a peace agreement or treaty is signed, there are terrorist attack . In 2008, a terrorist attack took place in Mumbai when Pakistan's External Minister came to Delhi. A week after Modi went to meet former Pakistani Prime Minister Nawaz Sharif in 2016, the Pathankot Air Base was attacked by terrorists. When Pakistan Prime Minister Nawaz Sharif and Atal Bihari Bajpayee signed the Lahore Declaration in 1999, Pakistan Army Chief Pervez Musharraf launched the Kargil War without informing the Prime Minister.
Once the Chief Justice Saqib Nisar of the Parliament of Pakistan asked for donations from everyone for the construction of a dam in Pakistan, Pakistani singer Atif Aslam gave 2.5 billion rupees, later the dam was never built. Another time the CEO of Pakistan International Airlines went to Europe and sold planes without informing anyone.

CONCLUSION

Now if Pakistan has to get things right, first of all the rule of the army in Pakistan must be ended. And the politicians there must run the country with a strong hand.