Pakistan’s PM Shehbaz Sharif has lamented over how he and the Army Chief Asim Munir have to ‘go begging’ around the world due to the dire financial conditions of Pakistan. Speaking at an event in Islamabad where he was addressing the exporters in Pakistan, Sharif made a rare confession that it is extremely embarrassing to go seeking funds from other nations.
Sharif added that the foreign reserves have improved in recent years. However, when one includes the loans given by firendly nations, the picture is not so pleasant for Pakistan’s economy. “The one who seeks the loan always has to keep his bead bowed’, Sharif added.
“We feel ashamed when Field Marshal Asim Munir and I go around the world begging for money. Taking loans is a huge burden on our self-respect. Our heads bow down in shame. We cannot say no to many things they want us to do” Sharif said.
Pakistan is currently seeking more financial help from the IMF after applying strict policies to keep Pakistan’s economy afloat.
The IMF had recently given Pakistan a sum of Rs 1.2 billion under a programme and a separate climate-related financing plan. This funding has helped Pakistan repay some of its old debts and build up its foreign reserves.
Sharif also informed that a team led by Finance Minister Muhammad Aurangzeb had met IMF officials recently and have tried to convince them that the Pakistani economy is currently ‘stable’ and they need to focus on reducing poverty and generating employment.
