‘We’re Living in a Bankrupt Country’: Pakistan Defence Minister Blames Govt for Economic Crisis

Pakistan’s defence minister Khawaja Asif said on Saturday that the country has gone “bankrupt”, and everyone including the establishment, bureaucracy, and politicians are responsible for it.

The remarks come as the country faces a crippling economy, with decades-high inflation — prices of milk and chicken at Rs 250 per litre and Rs 780 per kg -, and critically low foreign exchange reserves depleted by continued debt repayment obligations.

“You must have heard that Pakistan is going bankrupt or that a default or meltdown is taking place. It (default) has already taken place. We are living in a bankrupt country,” Asif said while addressing a ceremony in Sialkot.

The defence minister also said standing on one’s own feet was essential to become a stable country. “The solution to our problems lies within the country. The IMF does not have the solution to Pakistan’s problems,” he added.

He blamed everyone, including the establishment, bureaucracy and politicians, for the current economic crisis as the law and constitution are not being followed in Pakistan.

Asif said most of his time had been spent in the opposition camp and that he has witnessed politics being disgraced for the past 32 years.

According to The Express Tribune, Pakistan’s political party Tehreek-e-Labaik (TLP) has given 72 hours to the Pakistan Muslim League (PML-N)-led government to withdraw the latest hike on petroleum products.

The government had increased the prices of petrol by Rs 22.20 and diesel by Rs 17.20 per litre on February 15 amid rising inflation.

Asif said the government was begging the International Monetary Fund for the 23rd time in 75 years, adding that Pakistan’s debt has increased by 23% in just one year.

(with inputs from agency)

Read all the Latest News here