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Embarrassing to ask for more loans: Pakistan PM Shehbaz Sharif

The Pakistan PM thanked Saudi Arabia for their support but at the same time, mentioned that it is not a solution as the loans would have to be returned.

Prime Minister of Pakistan, Shehbaz Sharif, said that it is becoming very embarrassing for him to ask for further loans from other countries. Pakistan, which is perennially in an economic crunch, is once again getting bailed out by other countries like Saudi Arabia. The Pakistan PM thanked Saudi Arabia for their support but at the same time, mentioned that it is not a solution as the loans would have to be returned.

Addressing the passing out ceremony of probationary officers of the Pakistan Administrative Service (PAS), Shehbaz Sharif urged the civil servants to serve the country with their utmost capacities and hoped that they will navigate Pakistan out of its financial troubles.

At the ceremony, Pakistan PM reminded the PAS officers that they will be confronted with Pakistan’s problems, like poverty, unemployment, diseases, and illiteracy. Sharif regretted that during the past 75 years, different governments – whether headed by the political leadership or military dictators – could not address the economic issues.

During Sharif’s recent visit to the UAE, President Sheikh Mohammed bin Zayed announced a grant of a further USD 1 billion loan to Pakistan. UAE has also agreed to rollover a previous loan of USD 2 billion. Saudi Arabian Crown Prince Mohammad Bin Salman has also asked his officials to study if they can increase investment in the beleaguered country by another USD 2 billion.

Saudi Arabia and UAE have repeatedly helped Pakistan in an attempt to get their economy on track, but Pakistan’s economy is showing no signs of revival.

Shortage of even basic items like flour in Pakistan

Pakistan is facing its worst-ever flour crisis with parts of the country reporting a shortage of wheat and stampedes reported from several areas in Khyber Pakhtunkhwa, Sindh, and Balochistan provinces 

Tens of thousands spend hours daily to get the subsidized bags of flour that are already short in supply in the market. Chaotic scenes are often witnessed as people gather around vehicles pushing each other as the mini-trucks and vans escorted by armed guards go about distributing the flour. A number of clashes have been reported at flour dealers and tandoors.

Prices of wheat and flour have skyrocketed amid the ongoing economic crisis in the country.

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OpIndia Staff
OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

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