Pakistan has Ordered the resumption of all Belt & Road Initiative (BRI) from Infrastructure to Energy as the Country’s Economy is Struggling.
The IMF has predicted that the Pakistan Government is likely to miss all economic targets even as investments are shrinking and the loan waivers are not doing enough. The Country is in deep crisis and the only saviour right now is China, Pakistan’s iron-brother and the only Country with available Capital.
The BRI Corridor with its Special Economic Zones provides ‘ready framework’ for Pakistan to attract this capital. Pakistan had hit the reset button on all BRI projects that hit a roadblock when the first cases were reported. However, the work has resumed and the workers are back.
The process is being called phase 2 of Sino-Pakistani Industrial Cooperation. This so-called ‘phase-2’ is expected to catalyse industrial take-off and Chinese funds will be used to overcome economic shortcomings.
Reports say phase 2 of Sino-Pakistani Industrial Cooperation will generate 500,000 new jobs in the coming months.
What does China get in return? The answer again is quite simple – Pakistani loyalty and a strategic edge over India.