Islamabad: Pakistan (Pakistan), which is going through an economic crisis, has also left China. Imran Khan’s government had spread the bag in front of China to forgive the debt, but Beijing has flatly refused. In fact, Pakistan had requested to reorganize the debt of $ 3 billion under the China-Pakistan Economic Corridor (CPEC). The Imran government wants China to forgive its debt in this difficult time. In this hope, he had requested President Xi Jinping, but he refused.
China gave this argument
According to the Asia Times report, China has invested around $ 19 billion on an energy plant built in Pakistan. In response to Pakistan’s request, Beijing has said that it is not currently possible to reorganize the agreement on energy purchase, as Chinese banks will have to change their terms and conditions for any relief in debt.
109% of GDP debt
The Communist government of China has told Pakistan in very few words that it is not possible to change any condition of the agreement. The report said that Pakistan had a total debt of $ 294 billion as of December 30, 2020, which is 109 percent of its total GDP. At the same time, economic experts say that this ratio of debt and GDP may increase significantly by the end of the year 2023, due to which the Pakistani government will be in trouble.
Bilawal said attack
During Imran Khan’s tenure, Pakistan is getting entangled in the debt trap. Opposition parties have also become aggressive regarding this. Recently, the Chairman of the Pakistan People’s Party, Bilawal Bhutto Zardari, said that Prime Minister Khan is roaming the world frame with a bowl of begging and mixing the reputation of the country with the soil. He also said that Imran Khan has made Pakistan a slave to international lending countries and organizations.