“I want to say this without any pretense that when Field Marshal Asim Munir and I travel the world seeking financial assistance, we feel ashamed. Taking loans places a heavy burden on our self-respect. Many times, we are forced to compromise, and often we are unable to even say ‘no’ to their terms,” Shahbaz said, highlighting the pressures of negotiating foreign loans amid the ongoing economic challenges.
Shahbaz emphasized that Pakistan must now explore alternative strategies to sustain its economy and reduce reliance on international aid. The prime minister’s remarks come as Islamabad seeks support from the International Monetary Fund (IMF) while attempting to roll over existing debts to avoid default.
The Pakistani leader also reaffirmed the country’s reliance on longstanding allies, describing China as an “all-weather friend” and noting that Saudi Arabia, the UAE, and Qatar have consistently supported Pakistan during times of economic stress. “While we appreciate the assistance of these nations, we must also work toward self-sufficiency and find solutions that protect Pakistan’s honor and economic freedom,” he added.
Pakistan’s economy has been under significant strain due to high inflation, declining foreign reserves, and a widening fiscal deficit. The country has increasingly turned to multilateral institutions and friendly nations to bridge budget gaps and finance development projects. Experts warn that continued dependence on foreign loans could limit Pakistan’s ability to set independent economic policies and increase vulnerability to external pressures.
The prime minister’s statement reflects growing domestic concern over the sustainability of the country’s debt levels, as well as the social and political implications of repeated bailouts. Analysts note that while foreign loans provide short-term relief, structural reforms and diversification of revenue sources are critical for long-term stability.
Shahbaz’s comments signal a shift in narrative, urging both policymakers and the private sector to innovate and explore domestic solutions to Pakistan’s financial challenges while maintaining strategic international partnerships.
