Addressing leading exporters in Islamabad, the Prime Minister admitted that seeking foreign loans is a deeply painful experience for him personally and for the nation.

“We feel ashamed when asking for help”

Prime Minister Shehbaz Sharif stated unequivocally that it deeply hurts his self-respect and that of Army Chief Field Marshal Asim Munir when they have to travel to different countries around the world to appeal for financial assistance.

He said that relying on loans is not easy for any self-respecting nation, and such occasions make one hang their head in shame.

A decades-old problem, still persisting

The Prime Minister acknowledged that Pakistani governments have been running the country on borrowed money for a long time. He also implicitly admitted that this is not just a result of the current government’s policies, but of policies spanning several decades. Every new loan further exposes the country’s economic weakness.

Trying to recover with IMF support

This statement comes at a time when Pakistan is negotiating with the International Monetary Fund (IMF) regarding its future economic plan. Pakistan recently received $1.2 billion from the IMF, providing some relief for debt repayment and foreign exchange reserves. The government claims that foreign exchange reserves could reach $20 billion in the coming period.

Promise to support industries

The Prime Minister stated that the government has instructed the central bank and the finance ministry to facilitate access to capital for industries. He said that economic recovery is possible not just through loans, but through increased production, exports, and strengthening the private sector.

He also appealed to the central bank governor to listen to the concerns of the industrial sector and take bold decisions.

The question still remains

The Prime Minister’s candid statement has once again raised the question of why Pakistan repeatedly falls into a debt trap. Whether the path to economic self-reliance will remain limited to mere promises, or whether concrete changes will be seen in the coming years—the answer will depend on future decisions.

The post Pakistan’s Prime Minister Shehbaz Sharif acknowledged that the country’s head bows in shame when it has to beg for aid. appeared first on Mission Ki Awaaz.

Pakistan has become the first country to nominate Trump at an international forum like the UNGA. This nomination comes just days after Prime Minister Shahbaz Sharif and Pakistan Army Chief Field Marshal Asim Munir met with Trump in Washington.

Trump reportedly left no stone unturned in wooing Pakistan. He described Sharif as a “great leader” and Munir as a “respected figure,” and also called Pakistan an “important and great nation.” These statements have once again brought the diplomatic bonhomie between the two countries into focus.

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