Pakistan PM Admits Shame Over Seeking Foreign Loans
Pakistan Prime Minister Shehbaz Sharif has said he feels ashamed when he and the country’s military leadership travel abroad seeking financial assistance to stabilise the economy, underlining the depth of Pakistan’s ongoing debt crisis.
Debt Crisis Forces External Dependence
Speaking at a public event, Sharif said Pakistan’s repeated reliance on foreign loans has hurt national self-respect. He acknowledged that mounting debt and weak economic fundamentals have left the country with little choice but to approach external partners for support.
Role of Military Leadership
Sharif referred to joint overseas engagements with Army Chief Asim Munir, noting that such visits are driven by the urgent need to secure funds to manage foreign exchange shortages and meet repayment obligations.
Call for Economic Self-Reliance
The prime minister stressed the need for long-term structural reforms to reduce dependence on bailouts. He said Pakistan must strengthen exports, improve tax collection and control expenditure to avoid returning repeatedly to lenders.
Pakistan continues to rely on assistance from friendly nations and international financial institutions as it struggles with inflation, slow growth and heavy external liabilities.
