Pakistan is currently facing a major crisis in terms of imports being stuck due to a shortage of foreign exchange. This is causing significant problems for the country’s industries, as they are unable to access the raw materials and goods they need to operate effectively. Many industries are on the verge of closing down as a result of this issue, as they are unable to pay for imports due to the lack of foreign currency.
One possible solution to this problem is for Pakistan to take advantage of the Belt and Road Initiative and the China-Pakistan Economic Corridor (CPEC) route from Kashgar to import goods from China via the Xinjiang province. This route is already in place and ready to be used, and by importing goods from China and paying in Chinese Yuan, Pakistan would be able to bypass the need for foreign currency.
This is a solution that can be implemented immediately and on an urgent basis, as the infrastructure and logistics are already in place. By utilizing this route and paying in Yuan, Pakistan would be able to access the raw materials and goods it needs to keep its industries running, and it would also be able to address the foreign exchange shortage.
In addition, by using the Chinese Yuan for trade, Pakistan will not only be able to import goods from China but also help to promote greater economic ties between the two countries. It will also help Pakistan to avoid the hassle of obtaining foreign currency, which can be difficult and time-consuming process.
In conclusion, Pakistan’s import is stuck due to low foreign exchange, and industries are on the verge of closing down. President Xi’s Belt and Road initiative and the CPEC route from Kashgar to import goods via Xinjiang province, and pay in Chinese Yuan is a ready solution. This solution can be implemented immediately and will help Pakistan to access the raw materials they need and solve the foreign reserve issue.
