Pakistan, which is on the verge of bankruptcy, is going to hand over the Gilgit and Baltistan areas to China in exchange for a loan of Rs 19 thousand crore. Pakistan has prepared to take this step to improve its deteriorating economic situation.
Pakistan’s foreign exchange reserves have been consistent. There is no hope of getting 90 thousand crore rupees to Pakistan from the International Monetary Fund. In such a situation, there is a possibility that Pakistan can hand over the areas of its occupied Kashmir (POK) to China.
The government of Pakistan took over the laws of these areas,
Pakistan has taken over 52 laws of Gilgit, Baltistan and POK. Under this, the Government of Pakistan has got the right to hand over the land there on lease to any country. In 2018, the Government of Pakistan had announced to give more rights to Gilgit, Baltistan and PoK. Gilgit and Baltistan Chief Minister Khalid Khurshid Khan has also accused the Pakistan government of reducing the assistance of 30 billion rupees to only 12 billion rupees.
China is excavating Neobim for EV Chip in Hunza China is excavating
Neobim on a large scale from Hunza area in Gilgit-Baltistan of Pakistan in lieu of loan. Hunza has reserves of 120 lakh metric tonnes of rubies-pearls and coal. China has got huge land on lease in Hunza. Recently, the local people here also protested against the issue of lease to China.
Pakistan sold shares of government companies to UAE in return for debt,
Pakistan is going to take 8 thousand crores from UAE (United Arab Emirates). For this, he will give more than 12% shares of 20 government companies to UAE. Pakistan had applied since 2018 to take a loan of 40 thousand crore rupees from Saudi Arabia. In February itself, Saudi Arabia has given a loan of 10 thousand crores to Pakistan.
Bhaskar Expert From Bhaskar Expert Sushant Sarin (Senior Fellow, ORF), we learned how much threat India is facing by China’s plan to lease Gilgit-Baltistan. He told that the alliance of China-Pakistan is made against India only. China’s every help to Pakistan is given keeping India in mind. Apart from this, China’s agenda is also to stop Islamic fundamentalism from Gilgit. Here China wants its dominance.