Pakistani Prime Minister Sharif: It’s shameful to ask for a loan…

According to national media reports, Sharif told an event in Lahore that in the past 75 years, governments have failed to solve the country’s economic problems.

Expressing that it is shameful for him, as a nuclear state, to borrow more from other countries, Sharif said, “To borrow more because the loans will be repaid, is not the right solution to solve Pakistan’s economic problems.” saying.

Sharif’s remarks came after a visit to the United Arab Emirates (UAE).

ECONOMIC REVIEW OF PAKISTAN

Pakistan is going through a difficult period economically. Pakistan is facing a balance of payments crisis due to the massive payment of external debt and the lack of external financing.

The Central Bank’s foreign reserves fell to $4.3 billion last week. In addition, the conference held in Geneva raised $10 billion in support to support the reconstruction of the country due to the flood disaster in Pakistan.

Prime Minister Sharif visited the United Arab Emirates last week. During this visit, the United Arab Emirates postponed Pakistan’s $2 billion debt and announced additional $1 billion in aid.

Saudi Arabia’s Crown Prince Mohammed bin Salman ordered on January 10 an investigation to increase his country’s deposits at the Central Bank of Pakistan from $3 billion to $5 billion.

The Crown Prince also wanted to work to increase Saudi Arabian investments in Pakistan to $10 billion. (AA)