Two and a half news

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Two bits of News emanating out of Pakistan, and a third bit emanating elsewhere, which makes for interesting reading. Pakistan has asked for a $9 Billion further loan from China. This is to pay the consortium against whom they have lost the mining case at Reko Diq and also cover operating expenses. In return, Pakistan will allow China mining rights of Gold and other minerals as a further expansion of CPEC. Thus, not only does Pakistan lose out on its earning from Reko Diq, it sells off its minerals cheaper to China. Know of anyone who got richer by taking from a moneylender and pawning off family jewels?

Not just that, Pakistan is settling an old trade dispute of $117 Million with Russia, which dates back to the Soviet Era. Back in the 1980s, the then Soviet Union used to buy textile and other materials from Pakistan. For this purpose, the USSR opened two bank accounts in the National Bank of Pakistan (NBP), with funds getting deposited in the accounts by the Economic Affairs Division through State Bank of Pakistan. After the Soviet Union disintegrated, Pakistan naturally ‘digested’ the money. But Putin doesn’t forget. When Pakistan went, seeking Russian investment, Putin reminded that in its book of accounts Pakistan is a ‘defaulter’ and Russia doesn’t invest in defaulters. Pakistan is now coughing up the $117 million post haste, in the hope of getting around $8 Billion ‘investment’ from Russia.

Now Russia doesn’t have that ‘$8 Billion’ to invest in anywhere. Thus, this is an export which will be paid with interest, to be deemed as “investment”. Looks like Russia will get its ‘warm water’ access without firing a shot and Russia along with China is focussed on dividing up the spoils which once was Pakistan. And to think the British HAD architectured and carved out Pakistan just to deny Russia this access. Should one say, ‘you’ve come a long way baby!’. Gives one thought about all such ‘long term strategy’ doesn’t it?

You must be wondering about the ‘third bit of news’ I had referred? Oh why, it was the recent declaration of Russia and China being strategic partners. I had thought that would have been obvious by now. Between the two of them, they will not mind holding up the shell of the identity of Pakistan, as long as they can eat it up from inside. And guess what, Pakistani Army will help them do that, even as they revert to being what they originally were…a mercenary army proud of its traditions to fight for its masters.

 

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