As per its official website, the Diamer-Bhasha Dam would cost around $12 billion (2008 estimate). At the exchange rate of Rs161, this comes around to Rs1.93 trillion. Thus, the financial relief package to battle one of the biggest economic crises in recent history is one-third smaller than the cost of the dam the country was trying to build.
But blood can’t be squeezed out of a rock and Pakistan has a lot of loans and very little money. That is where aid comes in.
However, if experience has taught us anything, it is that IMF aid comes with strings attached. But if there was ever a time to go deep in debt and beg, borrow and steal to finance relief measures, it is now.
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