Pakistan and China signed a total of 16 pacts amongst themselves on Saturday including the construction of China-Pakistan Economic Corridor ( CPEC ) which the Chinese are aiming at. These pacts of China and Pakistan give some air to breathe to the Pakistan economy which is battling through a time of massive economic crisis. Pakistan since early 2018 is facing a huge economic decline in its economy that can even lead to an emergency in the country.
The Chinese aid of $ 6 Billion to the Imran Khan government will be of great importance because of the great danger that the country is facing. Further, this amount also includes a loan of $ 1.5 Billion with some extra amount of $ 3 Billion for the China-Pakistan Economic Corridor (CPEC). This aid is an indication about the fact that how important Pakistan is for the development of the Economic Corridor which is a dream project designed by the Chinese for boosting up the trade and supply of raw materials leading to expansion of its global market.
On the other hand, the relationship between Pakistan and China has further developed after the completion of these agreements. The raw material, cloth and the agricultural industry will be benefited after this aid will be put in use, this will not only improve the internal economic scenario of the country but will also contribute in balancing the Balance of Payment account which is already in great deficit because of the grave corruption charges on the previous government leading to great fall in the value of the country’s currency.
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