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Pakistan’s Prime Minister Shehbaz Sharif has delivered unusually candid remarks about the country’s deepening financial crisis, admitting that the government has been forced to seek external funding under difficult and often humiliating circumstances.
Speaking at a public event, Sharif described Pakistan’s current economic condition as fragile and pressured by mounting debt, shrinking foreign exchange reserves and rising inflation. He acknowledged that his administration had little choice but to turn to international lenders and friendly nations to prevent financial collapse.
In a rare moment of openness, the prime minister said that travelling abroad to request financial support had affected national pride. He explained that repeated appeals for assistance often required compromises that leaders would normally prefer to avoid, but were unavoidable given the severity of the crisis.
Sharif emphasised that his government inherited an economy on the brink, leaving limited room for alternatives. Without urgent financial inflows, he said, Pakistan faced the risk of default, which could have led to shortages of essential goods and further hardship for citizens.
Over the past year, Pakistan has relied heavily on assistance from multiple international partners. These include bilateral loans, debt rollovers and support programmes aimed at stabilising currency reserves. Multilateral institutions have also played a significant role in keeping the economy afloat.
However, economists warn that dependence on external funding brings long-term challenges. Loan agreements often require structural reforms, spending controls and fiscal discipline that can be politically difficult and socially painful to implement.
Critics argue that repeated borrowing has trapped the country in a cycle of debt, limiting economic independence and placing pressure on future governments. They stress the need for export growth, tax reform and domestic investment to reduce reliance on foreign assistance.
Sharif defended his approach by stating that immediate stability was necessary before long-term reforms could succeed. He said safeguarding the economy was essential to protect ordinary citizens from deeper inflation and unemployment.
His remarks have triggered widespread debate within Pakistan. Some have praised the honesty of his admission, while others see it as evidence of years of economic mismanagement. As Pakistan continues its struggle for stability, the prime minister’s words highlight the difficult balance between dignity and survival and the hard choices leaders face when national finances reach a breaking point.
