Pakistan staring at loan default, and economic collapse.

Pakistan staring at loan default, and economic collapse.

To begin with, after Prime Minister Shevas Sharif proposed dialogue with opposing India, the Pakistani media announced that Foreign Minister Subrahmanyam Jaishankar’s invitation to the Shanghai Cooperation Organization (SCO) Foreign Ministers’ Meeting in May, Bilawal Zardari, would be linked with India regarded as a sign of the thaw of the economy.

Moreover, PM Sharif made his conditional offer in an interview with his UAE channel on 17 January 2023 and Jaishankar’s invitation was sent through his diplomatic channel on 24 December 2022. rice field. India, where he will chair the SCO in 2023, is obliged to invite all her SCO members ahead of her SCO summit later this year.

Indo-Pak dispute resolution talks 

Besides, advocates of India-Pakistan dialogue and India’s dispute resolution industry also paint a similar picture to their Pakistani counterparts, although there is no change in India’s bilateral stance towards Pakistan. The message is simple. Stop cross-border terrorism, talk and normalize relations.

In addition, given the economic situation in Pakistan and political changes in the highly radicalized Islamic Republic, Islamabad’s top priority is funding and debt relief for the ailing country.

Pakistan’s economy faces downfall 

Furthermore, Islamabad, facing harsh IMF terms on his loans to Pakistan, has turned to Washington to urge the Bretton Woods institution to soften the Islamic Republic amid calls from Prime Minister Sharif to raise electricity rates and taxes levied on rice fields. Such draconian measures would be politically disastrous for his current PDM regime and would stop his arch-rival and agitator Imran Khan Niazi.

In conclusion, Pakistan is not only short of money, it is also short of ideas to save a nation that is crumbling at an alarming rate. Even if the economy was on the verge of bankruptcy, it wouldn’t have been so bad. But not only is the economy collapsing, communities are utterly polarized and tearing the country apart, social cohesion and cohesion are being destroyed, and the security situation is spiraling out of control due to Taliban belligerence.