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Editorial

SBP awaits Chinese bailout

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china bailout

The brotherly relations that Pakistan and China enjoy, the much touted ‘all-weather’ friendship between these two countries, earlier it was lauded and flaunted by Nawaz Sharif led federal government and Shehbaz Sharif led provincial government. Now it is being projected by our current federal government and the PTI leadership. On the other hand, China has been continuously expressing and extending support by all means and she proved to be a great help in the region and banking on the same Pakistan boldly faced the foreign crisis and secured a bailout.

Now that we have tried and tested this friendship during all tough times, what happens when it’s Prime Minister Imran Khan’s turn? It has been a serious debate that Imran Khan as an opposition leader made controversial remarks about CPEC and this is why China is not willing to lend a helping hand this time but considering government’s version correct in this regard, no substantial monetary support from China’s end still raises the question. Till date, no financial transaction has been made into State Bank of Pakistan.

Prime Minister and his government need to sit and strategize for recollection of the broken pieces through this bailout. Pakistan already enjoys good relations with two extreme ends China and Saudi Arabia, but this needs extra efforts for striking a balance. Messing up the balance shall cost both relations and it would become impossible to mend.

Furthermore, government of Pakistan needs to deal with International Monetary Fund amicably as well, non-disclosure of the name of Mission Head from IMF and then saying the same about China’s bailout that it is being discussed, shall create further doubts. Government must stay honest and straightforward with regards to his commitments and even if somewhere the government finds itself incapable of doing something that it had earlier promised then government must state facts and that’s how they take people in confidence. As long as people’s support lies with Prime Minister Imran Khan only then it would be ideal for the PTI led government to govern peacefully.

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