According to the IPSCS report, most of the deals signed by Chinese companies with Pakistan entailed assurance of exorbitant rate of returns to the Chinese companies for their investments. Going through an economic crisis for most of the past five years, Pakistan never seemed comfortable i
In December, 2022, inflation in the country stood at 24.5 per cent, almost double of 12.3 per cent from the previous year, the report said, adding that the common people were the most affected by the high flour prices amid the country's worst-ever food crisis.
The CPEC project that was commenced a decade ago was held as a harbinger of prosperity for Pakistan. However, seven years later, many projects under the CPEC still remain non-starters while some of those being operational have become liabilities and are incurring losses.
Port City Colombo (PCC), a vast new Chinese-built reclaimed commercial zone in Colombo, recently unveiled an artificial beach facing the Laccadive Sea.
Imran Khan said the IMF agreement will only provide temporary relief as it will eventually lead the country to a major disaster as the burden of loans will continue to increase.
"Amid Pakistan's economic crisis and the Taliban's rule in Afghanistan, the Pakistani Taliban have re-emerged as an increasingly potent threat," warned the report, released in Washington on Tuesday by the US Institute of Peace (USIP).
Witnessing the living example of Sri Lanka's economic crisis, African countries, which are caught in China's soft loan trap, are fearing that Beijing won't bail them out, Pardafas.com reported.
Pakistanis have largely lost faith in the coalition government headed by Prime Minister Shehbaz Sharif, having failed to carry out any of the much-needed economic reforms in the country.
Economic crisis in Sri Lanka has forced young and educated Sri Lankans to go abroad in search of jobs but many of these get trapped and are forced by Chinese nationals to work in scam call centers at Golden Triangle Special Economic Zone (SEZ) in Laos.
Last week PoK leader, Barrister Sultan Mehmood Chaudhry, was busy meeting with senior United Nations officials when a high school in his area was attacked by assailants, who also ransacked the schools and molested girls, the report claimed.