War no solution: Pakistan PM talks permanent peace with India
What's the story
Pakistan Prime Minister Shehbaz Sharif stated on Saturday that Pakistan seeks "permanent peace" with India through negotiation because war is not an option for the neighbors to address the Kashmir problem. Sharif reportedly told a team of Harvard University students that only long-term peace can address the Kashmir issue in accordance with United Nations (
Context
Why does this story matter?
The Kashmir dispute and cross-border terrorism allegedly coming from Pakistan have frequently strained relations between India and Pakistan. India has constantly informed Pakistan that Jammu and Kashmir would always be an integral part of India. The current Modi-led Central government too emphasized that it wishes to maintain normal neighborly ties with Pakistan in an atmosphere devoid of terror, enmity, and bloodshed.
Statment
What exactly did Shehbaz Sharif say?
"Pakistan resolves to maintain peace in the region, and that sustainable peace in the region was linked to the resolution of the Kashmir issue as per the UN resolutions," he said. "We want permanent peace with India through dialogue as war is not an option for either of the countries," he was quoted as saying in The News International report.
Comments
Let's compete in trade, not war: Sharif tells India
During the interaction with Harvard students, Sharif stated that Islamabad and New Delhi should compete in commerce and economics in order to enhance the lives of their citizens. He stated that Pakistan is not an aggressor, but that its nuclear assets and trained army serve as a deterrent, adding that Islamabad invests in its military to secure its borders rather than for aggression.
Economy
About economic crisis in Pakistan
In response to a query on Pakistan's economic crisis, he stated that the country's economic dilemma derives from structural difficulties as well as political instability in recent decades. Sharif also mentioned the significant economic growth during the initial years of Pakistan's formation. He emphasized the need to have plans, national will, and a system in place to generate results.
Details
Country facing multiple economic challenges
According to reports, Pakistan is suffering a number of economic issues, including increasing inflation, dwindling forex reserves, an expanding current account deficit, and a sinking currency. In the first nine months, the country's account deficit remained at $13.2 billion, putting external debt repayment needs under pressure. Experts say Pakistan needed $9-12 billion in financial assistance through June 2022 to avoid foreign currency loss.