The development of “Islamabad-Burhan Transmission Line Reinforcement Project (Phase-I)” is taking place. This project will be started on the basis of a huge amount of loan taken from Japan. The loan amounts to Japanese Yen 2.665 billion that is US$ 24 million. Through this aid by Japan, Pakistan can start projects, which will help improve the socio economic condition of the country. It will hence improve the electricity issues from Burhan to Islamabad.
Interesting: New Iphone an Attraction for Japan
The loan given by Japan has an interest rate of Yen LIBOR plus 10 bases point and the government has to repay it in 30 years. The government is thankful to the Japanese officials and they hope for further cooperation with the neighboring country in near future.
Who will pay back billions of loan and how?
These are the facts, but we need to think and analyze the situation critically. Development is necessary but being in debt to nations that our future generation would have to pay, is progress worth this burden we are placing on them? This is not the only project; CPEC is another huge project that will bring prosperity and growth in the country with a huge amount of loan. Who will pay back billions of loan and how? Are we as a nation too naïve or nothing concerns us anymore?
Image via: Customs Today