As made clear by Hussein Askary’s thorough economic review in EIR for June 10, Pakistan’s economic injuries from the worldwide hyperinflation of “global NATO’s” central banks—and not any debt owed to China—are causing a negative economic spiral in that country. In fact, the new electric power capacity which has been and is being built through the China-Pakistan Economic Corridor (CPEC) is being priced out of reach of Pakistani businesses and consumers by the worldwide roaring inflation triggered nearly three years ago by the U.S. Federal Reserve System’s start of blowout money-printing.
Now Bloomberg News reports on K-Electric Ltd., Karachi’s power utility, “`These current conditions are severely hindering KE’s ability to procure fuel, causing a permanent curtailment of power generation’ that translates to as much as 10 hours of planned blackouts for some parts of the city, said Sadia Dada, a spokesperson for K-Electric.” Some 40,000 businesses will be subject to these power cuts, and will largely close down: “Nine business groups in Karachi told the government that an immediate plan needs to be formulated to lower power costs or face economic disaster.”
