Pakistan Prime Minister Shehbaz Sharif expressed frustration over the country’s heavy reliance on foreign loans, saying that seeking international financial aid undermines national dignity and is a source of embarrassment for officials, including Army Chief Asim Munir. Addressing exporters and business leaders in Islamabad, he emphasized that debt burdens compromise Pakistan’s self-respect. “We feel ashamed when Field Marshal Asim Munir and I go around the world begging for money. Taking loans is a huge burden on our self-respect,” he said, highlighting the country’s dependence on IMF support and debt rollovers.

Sharif acknowledged the support of “all-weather friends” like China, Saudi Arabia, the UAE, and Qatar, which provide critical financial aid, investments, and energy assistance. China has rolled over billions through the China-Pakistan Economic Corridor (CPEC), while Saudi Arabia, the UAE, and Qatar have contributed loans, deposits, and investment commitments totaling tens of billions of dollars.

He also raised concerns about Pakistan’s socioeconomic crisis, citing rising poverty (up to 45%), extreme poverty (16.5%), unemployment (7.1%, over 8 million jobless), and limited development in R&D and innovation. Exports remain heavily reliant on textiles, with structural issues preventing growth in software, agriculture, and livestock sectors.

Sharif’s remarks underscore Pakistan’s ongoing debt crisis, with public debt exceeding Rs 76,000 billion as of March 2025, reliance on IMF programs, and repeated borrowing to cover interest payments. He criticized the focus on “geopolitical rent” and perception management, such as paying to secure influence on international boards, while millions of Pakistanis struggle with inflation, energy shortages, and unemployment.