By Muhammad Jahangir Alam
Few days back, Prime Minister, Imran khan raised his voice for the loan relaxations due to the ongoing crises. And soon after what we came across that United Nation stood up endorsing PM’s point of view as UN secretary general Antonio Guterres spokesperson Stephane Dujarric said that even UN secretary-general wishes the same and wants this to be done as soon as possible as there are some countries who can’t survive in this crucial time.
Now recently, Foreign Affair Minister, Shah Mahmood Qureshi announced that IMF is giving loan relieve for 1 year almost to Pakistan which means 12 billion dollars relaxation which was supposed to be given back to IMF in this year duration.
The secret behind this victory mainly involves China’s backdoor game. China basically currently owns 3200 billion dollars as an officially savings and was planning to give out around 60-70 billion dollars to almost 50 those countries who were supposed to payback IMF. On the whole china was actually coming in their good books by standing with them in their difficult time. Now this was something which did not went good with IMF and just to stop china from this IMF finally gave relieve to not just Pakistan but 36 other countries as well.
This relive will also be helpful in a way that although because of corona a lot of business are shutting down which will lead to less tax collection and whatever remaining tax would be gathered will be enough for Pakistan to survive.