New Delhi, Sep 7 (SocialNews.XYZ) Pakistan has raised $3 billion through a dual-tranche Eurobond issue, the largest single international capital-market transaction in its history, and its government has presented the sale as another vote of confidence in the country's economic recovery.
However, the price tells a different story as Pakistan will pay 7.5 per cent on the five-and-a-half-year tranche and 7.9 per cent on the ten-year bonds.
International investors are prepared to lend Pakistan money again, but at rates reflecting the considerable risks that remain attached to the country, according to an article in The Times of Israel.
Behind Islamabad’s improving international profile lies a federation under growing internal pressure. Balochistan remains caught in insurgency and repression, from CPEC to Gwadar. Pakistan-occupied Kashmir has witnessed deadly unrest. Khyber Pakhtunkhwa remains under enormous security pressure. In Sindh, arguments over water, resources, provincial autonomy, and now the territorial integrity of the province are becoming increasingly bitter, states the article by Italian geopolitical expert Sergio Restelli.
The contradictions were on display in the Sindh Assembly last week. For four days, legislators fought over proposals for new provinces and administrative units. The ruling Pakistan Peoples Party rejected any division of Sindh. Opposition legislators from MQM-P, PTI and Jamaat-e-Islami argued for greater administrative decentralisation, accusing the PPP government of using fears about the province’s division to distract from corruption, poor governance, and inadequate devolution, the article said.
It highlighted that behind the parliamentary dispute is a far older and more dangerous question. Who controls Sindh’s water, land and resources, and the excessive power that Islamabad and the Punjab-dominated political and security establishment exercise over Pakistan’s provinces.
Water has brought these tensions into the open. Sindh, situated downstream on the Indus, has long complained that Punjab consumes a disproportionate share of the river system. The proposed construction of six canals associated with agricultural development in Cholistan turned those grievances into a mass political movement in 2025.
The controversy united groups that rarely stand together. The PPP, Sindhi nationalists, lawyers, farmers, and civil society organisations opposed the project. The Sindh Assembly unanimously rejected it. The dispute reached the National Assembly and Senate, the article pointed out.
Source: IANS
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