Pakistan & Sri Lanka crisis: Due to the economic crisis in Sri Lanka, the situation is very bad. But now it is believed that in the situation which is being seen in Sri Lanka, in the coming days, a similar situation may happen in Pakistan. Pakistan may not have good relations with India, but its ruin will not be any good news for India. There is turmoil in India's neighbouring country Sri Lanka.
Due to the economic emergency, the situation has become so bad that people have gotten up from the streets and reached Rashtrapati Bhavan. Sri Lankan President Gotabaya Rajapaksa has absconded. India has assured all help to Sri Lanka on this occasion. But the clouds of such an economic crisis are hovering over another neighbouring country India. That country is none other than Pakistan.
The geopolitics of South Asia is changing rapidly. Experts believe that if the war between Russia and Ukraine continues for a few more days, then the situation in Pakistan will become like Sri Lanka. The biggest reason for this is the rapidly increasing crude oil prices.
Sri Lanka could not buy oil from the world due to rising crude oil prices, as there was a huge shortage in its foreign exchange reserves. The same situation is in Pakistan. Apart from the Russia-Ukraine war, many reasons can lead to problems in Pakistan.
Decrease in Pakistan's foreign exchange reserves
There has been a big decrease in the foreign exchange reserves of Pakistan. According to the report of The Express Tribune, on June 30, Pakistan's foreign exchange reserves are left at $ 9800 million. On June 24, it was more than 1000 million dollars. It has decreased by $49 million.
According to the State Bank of Pakistan, most of the shortfall is due to external debt and other payments. Pakistan's politicians are also concerned about the reduction in foreign exchange reserves. Recently, a Pakistani minister said that people should stop drinking tea because less tea will have to be imported.
Shahbaz Sharif has come to power in Pakistan recently by toppling the government of Imran Khan. But he has not been able to do any such miracle which can fix the economic condition of Pakistan. Like Imran Khan, he is also looking forward to the Gulf countries for loans. But no country wants to give loans to the government of Pakistan at this time given the instability. Although it is getting crude oil from Gulf countries, due to this there is no performance in Pakistan at present.
The biggest challenge for Pakistan is the IMF. Pakistan is expecting a loan from the IMF, but no agreement is being reached. Under the pressure of the IMF, Pakistan has increased the prices of many things. The inflation in Pakistan is telling the situation of the economic crisis there. With effect from July 1, natural gas prices have been approved to increase from 43 per cent to 235 per cent. This is because the Pakistan government wants to recover 660 billion Pakistani rupees.
India's relations with Pakistan, which is trapped in China's debt trap, may not be good, but its ruin will create problems for India itself. This is because of the situation which is in Sri Lanka today, if such conditions are created in Pakistan, then China will be a country which can give it a huge loan. Along with this, there is also concern that Pakistan may make a deal with China for a naval base like Gwadar port. If India's enemy comes so close through China Navy, it will not be a good thing.