he is butthurt that Indian money is off reach from his familyPakistan's foreign minister Bilawal Bhutto-Zardari said that India is both "rich and evil at the same time". During an interview, when mentioned that India is the world's fifth largest economy and its recent move to remove to revoke Article 370, Bilawal Bhutto said "you can be rich and evil at the same time".
"You can be rich and evil at the same time. That doesn't change reality," he said in an interview while talking about India's move to remove the special status of Jammu and Kashmir.
Pakistan owes 30 per cent of its foreign debt to China, according to the latest report from International Monetary Fund (IMF). Pakistan, at the moment, is facing one of its biggest economic crises, as it is on the brink of defaults and diplomatic isolation.
The country is overburdened by loans from China and faced hard negotiations in its bid for support from the International Monetary Fund (IMF).
'CHINESE OUR ALL-WEATHER FRIENDS'
"As far as Pakistan and China's relations are concerned, they're called "all-weather friends" for a reason: The Chinese have always been our all-weather friends throughout our history," he said.
“Obviously, when you do development to that scale, there is debt," he added.
Pakistan owes a debt of $30 billion to China, from $25.1 billion in February, Geo News reported quoting the IMF report.
Islamabad managed to secure a much-needed bailout package from the IMF in September when the Fund's executive board approved the release of $1.1 billion to Pakistan - averting the threat of imminent default.
Devalued currency, rising inflation and the worst balance of payments, all these which triggered a political crisis, could be the possible reasons for this situation along with the fact that it was being outperformed in most sectors by India.
Economic Survey of Pakistan (2021-22) shows the country’s deep economic ties with China.
At the same time, when Pakistan is facing an acute financial crisis, the budget for defence has increased immensely. There has been an increase in defence budget by 11 per cent, contrary the budget for Education, Housing, and Health has been cut drastically. This indicates the deviation from welfare-oriented schemes for the people of Pakistan.