The seminar, organised jointly by the Wilson Centre, Washington, and the International Academy of Letters (IAL), USA, tried to explore how to promote US- Pakistan relations after the withdrawal of American troops from Afghanistan.
Pakistan's major debt sustainability indicators have witnessed marked deterioration during the first half of this fiscal year in the middle of steep currency devaluation and interest rates hikes, revealed a semi-annual debt bulletin of the finance ministry, The Tribune reported.
China's ambitious CPEC project launched in 2013 was flawed from the beginning when it was assumed that it would be able to generate jobs and growth in Pakistan.
In the first half of the fiscal year, Pakistan paid USD 10.21 billion in external debt servicing while in the same period of 2021-22, the country paid USD 6 billion, State Bank of Pakistan's (SBP) data showed.
With a net income of PKR 2.5 trillion, Pakistan's total spending on debt servicing and defence reached over PKR 3.2 trillion more than the government's net income.
Ishaq Dar stressed that Pakistan was on the verge of default in 2013. However, their government was able to move the country out of the crisis by using "good economic steps."
As per the report, the new bill "fits very well with the Chinese playbook of "salami slicing and gobbling up the territories" to advance its own geostrategic ambitions.
In its latest report "International Debt Report 2022, Updated International Debt Statistics," the World Bank said that the total external debt stocks were at USD 130.433 billion by 2021.
In the fiscal year, 2022-2023, in July-September the debt and liabilities stood at Rs 62.46 trillion which is more than the same period of last fiscal year, accounting for Rs 50.49 trillion.
Developing countries are moving toward China's debt trap and Daily Times, a Pakistani newspaper, is suggesting Pakistan that necessary measures may be taken to avoid Islamabad going Colombo's way