By Admin 
Pakistan: The economic situation of Pakistan is not hidden from anyone. Pakistan’s economy is somehow running with the help of debt. Pakistan’s foreign debt has doubled in the last 12 years. Apart from this, Pakistan has also been continuously spreading its baggage in front of the International Monetary Fund (IMF). Asian Development Bank also has a debt on Pakistan. Pakistan may make big boasts, but the truth is different. Pakistan Prime Minister Shahbaz Sharif himself has revealed this.
Shahbaz’s shocking statement
Shahbaz told how he and Asim Munir had to face embarrassment for repeatedly extending their hands in front of others. Shahbaz has said, “When Field Marshal Asim Munir and I roam around the world begging for money, we feel ashamed. Taking a loan is a huge burden on our self-esteem. Our heads bow in shame. Whatever they want us to do, we cannot say no to many of them…” Shahbaz’s statement has come at a time when Pakistan is seeking international help to support its economic growth. Is in talks with the Monetary Fund.
What else did PAK PM say?
Shahbaz also said that his government has directed the Central Bank and the Finance Ministry to support industrial growth by improving access to capital. “The governor will have to listen to business leaders and take major decisions,” Sharif said on Friday. Pakistan recently received $1.2 billion from the IMF under its ongoing loan program and a separate climate-related financing plan. This funding has helped Pakistan in repaying its debt and increasing its foreign exchange reserves.
condition of pakistan’s economy
Pakistan’s central bank this week estimated its foreign exchange reserves would exceed $20 billion by December – a record. However, for this program Pakistan needs to maintain a strict monetary policy and control expenditure. The State Bank of Pakistan this week unexpectedly kept interest rates steady at 10.5 percent, saying inflation could rise, while it projected GDP to grow by 3.75-4.75 percent in the fiscal year ending in June.
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