Pak PM Admits Shame in Global Begging for Loans Along With Army Chief

Pakistan Prime Minister Shehbaz Sharif made a rare and candid admission about the country’s economic struggles, revealing deep personal shame over having to seek financial assistance abroad. Speaking at a gathering of top exporters in Islamabad on Friday night, Sharif described how he and Army Chief Field Marshal Asim Munir traveled internationally to request loans and aid from friendly nations. He said the act of borrowing felt like a heavy burden on national pride and self-respect.

Sharif acknowledged improvements in Pakistan’s foreign exchange reserves, which have nearly doubled in recent times. However, he pointed out that much of this growth came from loans provided by allied countries rather than organic economic strength. “The one who goes to take a loan, his head is bowed,” he remarked, emphasizing the humiliation involved in such negotiations. He added that Pakistan often cannot refuse demands made by lenders, further compromising its dignity.

The Prime Minister’s remarks come amid ongoing talks with the International Monetary Fund for additional support following strict stabilization measures. Pakistan recently secured $1.2 billion from the IMF under its existing program, plus separate climate-related funding, which helped repay debts and bolster reserves. The State Bank of Pakistan now projects reserves to surpass $20 billion by December—a record high—though this relies on continued tight monetary policy and restrained spending.

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Despite these gains, Sharif stressed the need to shift focus toward industrial growth, job creation, and poverty reduction. He directed the central bank and finance ministry to ease access to capital for businesses and urged bold decisions from financial authorities. Finance Minister Muhammad Aurangzeb and his team were praised for presenting a compelling case to the IMF, highlighting Pakistan’s achievement of economic stability as a foundation for future progress.

Sharif’s frank confession has drawn attention both domestically and internationally, underscoring the political and emotional toll of Pakistan’s reliance on external financing. While reserves show improvement, the country continues navigating challenging economic reforms to achieve long-term self-reliance and sustainable growth.

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