Overview
- Prime Minister Shehbaz Sharif said he and Field Marshal Asim Munir quietly visited friendly countries to request billions to bridge an external financing gap and support IMF requirements.
- He said borrowing forces compromises and lowers national self-respect, while thanking partner nations and citing China as foremost among those that helped.
- Sharif noted foreign-exchange reserves had almost doubled but said the increase includes loans from friendly countries.
- At the same event, he announced industry relief including a PKR 4.04 per unit electricity tariff cut, wheeling charges reduced to PKR 9, and an export refinance rate cut from 7.5% to 4.5%.
- A video of the comments circulated widely as critics and analysts said the admission underscores Pakistan’s reliance on external lenders and the military’s role in economic outreach.