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Home Headlines

Pakistan facing debt crisis, still procuring arms

by On The Dot
March 15, 2021
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Pakistan facing debt crisis, still procuring arms

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Islamabad: The people of Pakistan had high expectations from Prime Minister Imran Khan, but he could not live up to it. Imran Khan, who came to power claiming to create a new Pakistan (Naya Pakistan), made the situation of his country worse than before. Pakistan is being burdened day by day under debt, due to which its all-weather friend China is starting to dominate the country which is often called synonym of Terrorism.

Now a report has surfaced in which it is revealed that Pakistan is collecting a stock of weapons despite being burdened with poverty and debt. Pakistan is one of the countries which has continuously imported arms from other countries.

Stockholm International Peace Research Institute (SIPRI) said in a report on Monday that apart from countries like India, Australia, China, South Korea, Pakistan was among the countries that bought 42 per cent of weapons in the year 2016-20. The report also states that the world’s largest exporters are the United States, France and Germany, whose deliveries have increased significantly. However, Russia and China have suffered losses.

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SIPRI stated that this was the first time since 2001–2005 that the volume of delivery of major weapons among these countries had not increased from the previous five-year period. The pandemic has damaged economies around the world and pushed many countries into a deep recession. SIPRI said that it is too early to tell whether the slowdown in arms supply is likely to continue or not.

“The economic impact of the Corona pandemic may reassure some countries of their arms imports in the coming years,” Pieter Wezeman, a senior researcher with the Stockholm International Peace Research Institute, said in a statement.

For example, the United Arab Emirates (UAE) recently entered into an agreement with the US to purchase 50 F-35 jets and 18 armed drones as part of a $ 23 billion package.

The Middle East countries saw an upsurge in the import of 25 per cent of weapons from 2011-15 to 2016-20. Saudi Arabia, the world’s largest arms importer, increased its arms imports by 61% and Qatar by 361%.

Tags: debt crisisPakistan
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