Gilgit-Baltistan faces financial crisis, deterioration of constitutional identity: Reports

Pakistan: Gilgit-Baltistan has been facing a serious financial crisis and deterioration of its political and constitutional identity which turned out to be a great matter of concern. The region has sought funds from the federal government of Pakistan, according to the reports.

Gilgit-Baltistan governor Syed Mehdi Shah also asked for financial assistance from the federal government. However, the sources revealed that despite the tough situation in the region, the government of Pakistan has not released the annual financial development grant for the country.

According to the reports, Gilgit-Baltistan has been facing an acute shortage of wheat as the prices have surged and the government needed funds to purchase the wheat which has been not provided by the federal government. The government of Pakistan provided 8 billion annually to Gilgit-Baltistan to subsidize wheat however, the needed budget is 13.6 billion.

There are lot many issues faced by GB as it has been deteriorating in many ways such as socio-political conditions, the sectarian and lingual dissension. These regions worked as barriers to the overall development of the region as there is no attempt to strengthen these aspects, as per the reports.

However, the magnificent views and locations of Gilgit-Baltistan make it the perfect location for travellers and tourists, and the mineral-rich place has also been the target of foreign occupiers. The region has become the prominent gateway of Pakistan’s part of the BRI project known as CPEC “China-Pakistan Economic Corridor”. Moreover, Pakistan has also signed deals with China for mineral-rich areas of GB triggering protests against the projects because the people of the region were never taken on board as stakeholders.

According to the reports, the deals allow Chinese companies to mine in the GB region without debarring local people’s jobs. There is also a great lack of revenue from trade with China which makes the region feel the exploitation of the local people and triggers the demand for Independence.