Pakistan: As soon as the loan is approved by the International Monetary Fund (IMF), Pakistan has started competing to hoist the highest flag. The government of Punjab province of Pakistan has decided to hoist 500 feet high Pakistani flag on the 76th Independence Day i.e. 14th August. Its cost will be around 400 million Pakistani rupees.
The Punjab province, which is facing an economic crisis, needs at least 2 thousand crore rupees in the next 2 years to repay the foreign debt. Meanwhile, the Punjab government has announced hoisting the flag at Liberty Chowk in Lahore. A few days ago, the IMF approved the decision to give a loan of $ 3 billion to Pakistan under the Staff Level Agreement.
There was a 9-month stand-by arrangement between the IMF and the Government of Pakistan. After this, on July 11, Saudi Arabia transferred 2 billion US dollars to its Central Bank to help Pakistan. The very next day UAE also gave $ 1 billion in aid to Pakistan.
The competition between India and Pakistan to hoist the highest flag started 6 years ago. In fact, in 2017, India hoisted the tallest flag in South Asia at the Attari-Wagah border. The height of this tricolor was 360 feet. Its cost was three and a half crores. After this, Pakistan had many times accused India of spying through the tricolor.
Then a few months later, Pakistan hoisted South Asia’s tallest 400 feet high flag at the Attari-Wagah border. It was hosted by the then Army Chief General Qamar Javed Bajwa. After this, in the same year, India installed a 418 feet high tower to hoist the tricolor higher than the Pakistani flag at the joint check post near the border.
Now to prevent India from breaking Pakistan’s record, the neighboring country has already announced to hoist a 500 feet high flag.