Pakistan drowns in debt while losing its political and strategic autonomy to China
China with its Belt and Road Initiative is ensuring that Pakistan is submerged in a debt trap and is forced to part with its territories while losing strategic and political autonomy. Global media reports have indicated that China is unwilling to entertain Islamabad’s request to find the US$6.1 billion Main Line -1 (ML -1) railway project. This project is the biggest component of the Chinese flagship CPEC China-Pakistan Economic Corridor project at a 1% interest rate. Pakistani debt trap connection to China The ML -1 project has gone through a series of negotiation, renegotiation, suspension, and recommencement. In this scenario, Beijing is aware and considering Pakistan’s precarious financial state, that it cannot dictate the terms. Therefore, after posturing, the country will be pushed...
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