Pakistan’s borrowings from China have increased considerably during the recent period
KARACHI: According to a news report, Pakistan has borrowed another $50 million from China. The loan has been given to improve Pakistani rupee’s worth and valuation against the dollar. With that, Pakistan’s borrowings from China have increased considerably during the recent period.
As the loan would also serve the purpose of debt servicing, it would on the other hand add more to Pakistan’s borrowing and the debts incurred as a result. Hence, borrowings to service previous borrowings will only result in more borrowings, which is not a smart move on the part of the government.
Maryam Ali
Published in The Express Tribune, February 18th, 2018.
Like Opinion & Editorial on Facebook, follow @ETOpEd on Twitter to receive all updates on all our daily pieces.
