US wants assurance from Pakistan that bailout money not to be used to redeem Chinese debt
New Delhi, Nov 30: With Pakistan being in a serious debt trap but it is still continuing with its foolhardy ways. This could have been one of the reasons for the country not getting financial help either from International Monetary Fund, the US or any other country in the world including Islamic nations. Now, the US has demanded Pakistan to show complete transparency on all debt it has taken from China.
Actually the demand by the Trump administration was made amid such concerns in which it is being said that Pakistan is seeking bailout package from the IMF to pay back debt of China. A team of the IMF recently visited Pakistan and the US is emphasised that there must be complete transparency in providing loan to Pakistan and on what terms it had got from China.
China has made huge investment in Pakistan which is roughly estimated at Rs 4.33 lakh crore and its is asking for Rs 84 thousand crore ($12 billion) bailout package from wherever possible. But the US and many other countries have been opposing it. It is being asked if the money given to Pakistan will be used to return money of China? Is this the right strategy for the economic development? Pakistan is demanding bailout package since October this year. However, experts in India said that it is helplessness of the world community to bailout Pakistan. They will have to do for regional peace.
The US has already stopped Rs 21 thousand crore add to Pakistan that was meant for the security concerns of the country. This has been done as Pakistan failed to nail terrorist organisations in the country. The add was originally estimated at Rs 9000 crore but information collected from various other sources provided the new figure about the funding stopped to Pakistan.
Trump recently said that despite Pakistan getting lakhs of dollars as add but it is not ready to take any action against terrorists. Strategic experts say, "This is part of the state policy of Pakistan but besides that there are many such elements that are out of its control. Pakistan can control Good Talibanis but it does not have any control over Bad Talibanis. There are many organisations also that are not in the control of even Pakistani military."
Trump has made it clear that the US would not give any assistance to Pakistan as long as it takes action against terrorists in the country. But Pakistan Prime Minister Imran Khan responded by saying that Pakistan does not need to produce any data before the US. "We supported the US in the war against terrorism in which 75 thousand Pakistani got killed and Pakistan had to bear the losses to the tune of $123 billion," said Imran Khan.
But actually Pakistan is playing game with the US and it is not doing any satisfactory action against Hakkani Network, Taliban and Laskar e Taiba. The US law makers have been demanding stopping of funds to Pakistan right from the time of Barack Obama presidency.