By Admin 
Pakistan Prime Minister Shahbaz Sharif has openly admitted that he and Army Chief Field Marshal Asim Munir had to go to other countries to ask for funds. While addressing Pakistani businessmen in Islamabad on Friday (January 30), Sharif talked about the country’s economy and the decisions taken by his government.
Referring to the improvement in the condition of Pakistan’s foreign exchange reserves, Sharif said that in the present situation the foreign exchange reserves have almost doubled, but it also includes loans from our friendly countries and other countries. You know that the one who goes to take loan has his head bowed. Shahbaz narrated in detail how he and Asim Munir had to compromise in a shameful way to ask for the loan.
‘When we go to ask for money, we feel ashamed’
Shahbaz Sharif said that when Field Marshal Asim Munir and I go around the world to ask for money, we feel ashamed. Taking loan is a huge burden on our self-esteem. Our heads bow in shame. Whatever work they want us to do, we are not able to refuse it. These comments come at a time when Pakistan is in discussion with the International Monetary Fund for a plan to support economic growth after imposing strict policies.
He said his government has directed the Central Bank and the Finance Ministry to support industrial growth by improving access to capital. Sharif said on Friday that the governor will have to listen to business leaders and take bold decisions.
Received loan of 1.2 billion dollars from IMF
Let us tell you that Pakistan has recently received 1.2 billion dollars from the International Monetary Fund (IMF) under its loan program and a separate climate related fund scheme. This fund has helped Pakistan in repaying its debt and increasing its foreign exchange reserves.
Pakistan’s central bank State Bank of Pakistan unexpectedly kept its key interest rate steady at 10.5 percent this week. Citing fears of rising inflation, the bank has estimated GDP growth of 3.75 percent-4.75 percent in the financial year ending in June.
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