Major Paper Crisis in Pakistan; Next Session's Books May Not Be Provided to Students

Pakistani paper association warns that books will not be available to students in the countrys new academic year beginning August 2022 . Paper prices are skyrocketing, publishers are unable to determine the cost of books .

Islamabad: The Pakistani paper association has warned that books will not be available to students in the country's new academic year beginning August 2022 due to global inflation, but the present paper crisis in Pakistan is also due to the wrong policies of the governments and the local paper industries, according to Pakistan's leading economist Dr. Qaiser Bengali.According to a Pakistani newspaper, Ayaz Amir, books will be unavailable to students in the new academic year beginning August, because paper prices are skyrocketing, publishers are unable to determine the cost of books, according to the newspaper.Ayaz Amir, a Pakistani columnist, said: We have seen the laws of Ayub Khan (Former President of Pakistan), Yahiya Khan, Zulfikar Ali Bhutto, and Muhammad We've all seen dictatorships take loans to fix the problems and then take more loans to pay back the previous loan.He said that this never-ending cycle is also ongoing, and that Pakistan has come to a point where no one is willing to lend the country any more loans.During Zia ul Haq's reign, we could not solve the political problems of our country, which was 11 crores.

In his column piece, he challenged local media.China has reached a difficult agreement with Pakistan on repayments on loans and other investments in Pakistan.Pakistan paid USD 150 million in interest to China in the fiscal year 2021-2022 by utilizing a USD 4.5 billion Chinese trade finance scheme.Pakistan paid USD 120 million in interest on USD 3 billion in loans during the financial year 2019-2020 period.China has been extremely strict in regaining money from Pakistan.

Due to Pakistan's significant energy sector circular debt of around USD14 billion, several Chinese projects in Pakistan are now in the midst of the economic crisis.The 2019 USD 6 billion IMF loan, which has also been on hold, has also been delayed, and China has reacted to Pakistan's repeated requests for assistance.Ironically, Pakistan has no intention of being a loan addict.This strategy hasn't paid dividends and is only increasing the cost of debt in Pakistan.