Northlines
Brig Anil Gupta
Despite Pakistan undergoing the worst phase of its existence, it is unwilling and unrelenting as far as terrorism is concerned. Despite being on the grey list of Financial Action Task Force (FATF) for the last more than two years and likely to be pushed into the Black List if it does not report 100 % compliance, it has yet to give up terrorism as an instrument of its state policy. Economically, Pakistan is at its lowest ebb with the Gross Domestic Product (GDP) for the current financial year hovering around minus 1.9 % gradually declining every year from 5.5% when Imran Khan assumed office. The country is burdened with debt and borrowings. It is passing through the deadly cycle of borrowings to repay debt. As on date Pakistan owes Rs 14 trillion to domestic creditors and $116 billion to foreign borrowings. When Saudi Arabia demanded the return of third instalment of $ 1 billion, Pakistan had to take a commercial loan of $ 1.5 billion from China. UAE has further added to the woes of economically beleaguered Pakistan when it demanded return of $ 1 billion which it had deposited with the State Bank of Pakistan and has now reached its maturity.