Fear of India’s military response after Pahalgam terror attack forces Pakistan to beg for help, Islamabad pleads for funds from…, even China…

New Delhi: After the massacre of Hindu tourists in Pahalgam, Jammu and Kashmir, war-like conditions have arisen between India and Pakistan. India has clearly stated that it will ensure justice for the victims of Pahalgam at any cost.

This commitment from India has exposed Pakistan’s weakness. Pakistan, which is going through a period of complete bankruptcy, has requested an additional financial aid of 10 billion yuan (approximately 1.4 billion dollars) from China. This amount has been requested under the existing currency exchange agreement between the two countries. Pakistan’s Finance Minister Muhammad Aurangzeb provided this information. He stated that this step has been taken to increase the country’s foreign exchange reserves and diversify financial sources.

Aurangzeb said this at a press conference after participating in the meetings of the International Monetary Fund (IMF) and the World Bank in Washington. He expressed hope that Pakistan’s current financial agreement with the IMF would be its last. He stated that the government is working on economic reforms so that the country can become self-reliant in the long term. These reforms include reducing the size of the public sector, changing the pension system, and increasing participation from the private sector. Aurangzeb mentioned that recent measures have stabilized the economy, and efforts are ongoing to strengthen it further.

In an interview in Washington, the Finance Minister stated that Pakistan has requested to increase the current currency swap agreement of 30 billion Yuan with China to 40 billion Yuan. He said that reaching 40 billion Yuan would be a good step for us. We have just made this request. This additional amount will help Pakistan strengthen its foreign exchange reserves.

Pakistan’s economy has been facing challenges for a long time. Foreign debt, rising inflation, and a weak currency have posed several difficulties for the country. In this context, financial assistance from allied countries like China has been crucial for Pakistan. Economic cooperation between the two countries has also increased through projects like the China-Pakistan Economic Corridor (CPEC).

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