Shehbaz Sharif says quiet part out loud: Pakistan feels ‘ashamed’ begging for loans
In a rare moment of brutal honesty — possibly accidental — Pakistan Prime Minister Shehbaz Sharif on Friday publicly admitted what the rest of the world already knows: that running Pakistan has turned into a full-time global fundraising tour.
Speaking at an event meant to celebrate businessmen and exporters, Sharif instead delivered a confession that sounded suspiciously like a résumé for international lenders.
“Those who go to seek loans must keep their heads bowed,” Sharif said, before bowing so deeply that the IMF could probably see the back of his head.
The Prime Minister acknowledged that Pakistan’s economic condition has reduced its leadership to globe-trotting petitioners, moving from one “friendly country” to another with a well-rehearsed pitch, a polished begging bowl, and very little bargaining power.
“How should I explain how we requested friendly countries for loans?” Sharif asked rhetorically, before explaining it anyway — repeatedly — and in public.
Sharif recalled that when his government took office in 2022 after Imran Khan’s ouster, the economy was already fragile. Two years later, it appears to have developed a permanent allergy to self-reliance.
According to the Prime Minister, Pakistan’s survival strategy now involves flying around the world with Army Chief Field Marshal Asim Munir, asking for billions while promising to nod politely to “undue demands” that come attached to the cheques.
“When you go seeking loans, you pay the price at the cost of your self-respect,” Sharif said, effectively confirming that Pakistan’s foreign policy now comes with EMIs, conditions, and moral humiliation bundled together.
In what may qualify as the most candid line ever delivered by a Pakistani leader, Sharif admitted:
“We feel ashamed when Field Marshal Asim Munir and I go around the world begging for money.”
Observers noted that the word “ashamed” was doing a lot of heavy lifting.
Sharif further conceded that Pakistan often cannot say no to the demands of lenders — a diplomatic way of admitting that sovereignty has been outsourced along with economic planning.
Pakistan’s favourite economic model: Borrow, roll over, repeat
Pakistan’s financial survival continues to depend on an ever-expanding list of benefactors. China has rolled over billions of dollars in deposits, Saudi Arabia has extended loans and oil facilities, the UAE has stepped in with rollovers, and Qatar has offered investments and LNG deals.
Meanwhile, the IMF remains the strict headmaster of Pakistan’s economy — handing out pocket money only after enforcing tough reforms, lectures, and frequent report cards.
China alone has invested over $60 billion in projects under the China-Pakistan Economic Corridor, ensuring that while Pakistan may not own its economy, at least someone else does.
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