Pakistan was miserable even 75 years ago and it is still the same today. Pakistan neither developed the country nor the people by separating from India. Then the current Prime Minister Imran Khan has fallen on his knees to run the country.
Gold is very important in any country’s economy, the more gold the country has, the stronger its economy will be. And on these lines, Pakistan has also prepared to bring a scheme to collect gold from its people. Foreign exchange reserves are an important asset in any country’s balance sheet. Which helps in reducing all liabilities of the country. And this is the reason why Imran Khan is on his knees now, as Pakistan’s foreign exchange reserves are on the verge of being depleted.
In the last three months, Pakistan has taken 3 billion dollars from Saudi Arabia. Pakistan has taken the most expensive loan of $1 billion in history, even by mortgaging the motorway. Pakistan has also taken a loan of 1 billion dollars from IMF.
Therefore, Pakistan has incurred so much debt that it has to take the help of the people to pay off the debt. If we look at this scheme of the government of Pakistan to pay off the debt
State Bank of Pakistan has gold deposits worth 17 billion dollars and will increase with the coming of this scheme.
A country’s foreign exchange reserves increase when it sells goods to other countries. But if a country is only importing and not exporting, then its foreign exchange reserves are significantly reduced. And the same is happening in the case of Pakistan.
Pakistan’s health is here
That is why it has come to the san place of Pakistan. And it has begun efforts to reactivate its trade ties with India.
Why is India-Pakistan trade closed?
Business relations between India and Pakistan have soured since 2019. In GFXIN 2019 itself, 40 Indian soldiers were martyred in the Pulwama attack. Due to which India increased the customs duty in trade with Pakistan by 200 percent. Due to which the trade between India and Pakistan decreased to less than 10 percent. In August 2019, India abrogated Article 370 in Jammu and Kashmir. Oil poured into Pakistan’s belly and it banned imports from India. Therefore, 90 percent trade between the two countries has stopped. GFXOUT Looking at who was most affected by India Pakistan’s deteriorating trade relationship….
Who is most affected?
Pakistan’s textile and sugar industries were badly affected
The pharmaceutical industry of Pakistan was badly affected
India’s cement, rock salt, dry fruit industries were affected
It is clear that Pakistan has suffered the most from the trade embargo, and if the embargo continues, Pakistan’s situation will worsen in the future. Not only this, Imran Khan’s turn has come to demand gold from the people to stabilize his economy. Imran Khan has realized his mistake. He has come to know that if he does not maintain trade relations with India, Pakistan’s wealth transfer will go away without war.
