Cybernetics
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US national debt is $21 trillion and total debt is $70 trillion, China's national debt is $5 trillion and total debt is $30 trillion (China's infrastructure debt was mainly put onto state own companies, separate from national debt).
Without borrowing money/using credit what are the other methods for developing basic infrastructure like rail, energy, and roads in this lifetime? I get that debt is painful to look at and burdens of large projects are scary. China had the same debate in the early 2000s when it was preparing to expand its very limited national highway system and rail network. Many people were in fact very against taking on large debt to build highways and especially highspeed rail, people thought China didn't need it but few short years later, more highways and railways were needed even the highly criticised high-speed rail. During that time China was at the same per capita GDP level of Pakistan today. The economy grew after better roads opened new opportunities. Had China not built it, it wouldn't have grown as rapidly as it did today. Currently each year China spends about $100 billion on railways, $230 billion on roads, and $20 billion on airports. People realise now that if you never take a bold step to build a strong infrastructural foundation the nation can never have strong future growth, there is no other way if development is desired (unless someone has a better solution). Unlike in Pakistan many of China's transport infrastructure projects in mountainous Southern China are notoriously expensive to build due to terrain, needing to build large lengths of viaducts and tunnels. Pakistan's population centres are blessed with a relatively flat plain connecting them.
The important thing to note about debt is the ability to cover the debt (your new assets are also income generating in addition to a multiplier effect on the economy) and the debt to asset ratio. Spending it on infrastructure is worth while when its needed, you get tangible assets. I think transport and energy infrastructure developments are quite important for Pakistan's overall development, a must actually. It is not like borrowing money for a shopping spree, it is investing in the future. The highest return infrastructure projects (for society) Pakistan is taking on right now is energy as it solves immediate problems, debt for that is definitely worth while in my opinion.
33 billion rupee interest for 922 billion rupee loan is quite low actually, looks like a rate a developed country would receive.
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