“If the war is delayed…”: In India-Paker tensions in Pakistan, harsh Ghoenka flag economic risks’
RPG Enterprise Chairman Harsh Goenka outlined a list of economic risks Pakistan must face if the India-Pakistan conflict escalates into a major battlefield of war.
According to the latest developments, Indian Foreign Minister Vikram Misri said on Saturday, May 10 that India and Pakistan have agreed to stop launching operations on land and air from 5 p.m.
Vikram Misri said: “Pakistan’s DGMO (Director General of Military Operations) called India’s DGMO at 15.35 hours this afternoon. With their agreement, both sides will cease all shooting and military operations on land, air and sea, effective from 1700 hours.”
These are the seven risks in Pakistan
1. Economic collapse: Goenka stressed how Pakistan’s economy will collapse as the country has already fallen on foreign exchange (forex reserves). Goenka also said that if the country wages war with India, the same expense would “waste” its existing reserves.
2. IMF’s bailout: The International Monetary Fund (IMF), global lenders’ deals with Pakistan will be jeopardized in case the country is fighting India because of the instability of global lenders’ “hate” in borrowers’ countries.
The IMF is a member organization of 189 countries committed to maintaining global monetary cooperation and ensuring national financial stability. The U.S.-based lender expands its $1 billion lifeline to Pakistan’s economic reform program and arranges with an Extended Fund Facilities (EFF).
“This decision allows immediate payment of approximately US$1 billion (SDR $760 million), bringing the total expenditure of the arrangement to approximately US$2.1 billion (SDR $1.52 billion),” the IMF said.
3. China Relations: The chairman said that if Pakistan launches war with India, friendly countries such as China will avoid “losing the bet” to support Pakistan. “Even Beijing avoids losing bets,” Harsh Goenka said.
4. Civil strife: According to Goenka’s post on X, the war with India is expected to bring about civil unrest, such as an increase in inflation, which, along with the war, could lead to angry citizens across the country.
5. Image of Pakistani army: The chairman of the RPG group also said that a war with India having the world’s third largest army would hurt the image of the Pakistani army in front of the world and its citizens. “It’s no longer popular,” Ghoenka said.
6. Terror counter-fire: “Extremists” hiding inside Pakistan can become “rogues” in case Pakistan decides to fight India. Earlier on May 7, 2025, India carried out its operation targeting Pakistan and nine terrorist bases in Pakistan-occupied Kashmir (POK) in retaliation for the Pahalgam terrorist attack.
The situation escalated when Pakistan began shelling the Indian border area on May 8 and 9, 2025.
7. Global Quarantine: Due to India’s relations with major world countries, war with India will create a “global isolation” situation for Pakistan.
Earlier on May 9, 2025, Harsh Goenka called the Sindoor operation more than a military response. He said it was the voice of a wounded country retaliation against the Pahalgam attack, which claimed 26 lives.
“Operation Sindor is not only a military response, but a voice of a wounded country rising quietly,” he said.
India – Pakistan ceasefire
India and Pakistan have agreed to stop land and air operations at 5pm, India Foreign Minister Vikram Misri announced on Saturday, May 10
Vikram Misri said: “Pakistan’s DGMO (Director General of Military Operations) called India’s DGMO at 15.35 hours this afternoon. With their agreement, both sides will cease all shooting and military operations on land, air and sea, effective from 1700 hours.”
However, India did not call the agreement a “ceasefire” and therefore could be regarded as a downgrade for both countries.
Earlier on Saturday, India reportedly warned: “Any future terrorist act will be regarded as an act of war against India and will receive a corresponding response.”
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