Shehbaz Sharif Says Even Friendly Nations Look at Pakistan as a Nation with a ‘Begging Bowl’ – News18

By: News Desk
Edited By: Shankhyaneel Sarkar
News18.com
Last Updated: September 16, 2022, 10:27 IST
Islamabad, Pakistan

Pakistan prime minister Shehbaz Sharif said that nations who have close ties or friendly relations with Pakistan have started to look at the country as the nation with a begging bowl.
According to a report by news agency Dawn, the Pakistan prime minister Shehbaz Sharif was addressing a lawyer’s conclave where he said: “Today, when we go to any friendly country or make a phone call, they think that we have come to beg for money”.
“Where does Pakistan stand today after 75 years? Even smaller economies had surpassed Pakistan and we have been wandering for the past 75 years carrying a begging bowl,” Sharif further added.
He blamed the Imran Khan-led government for taking wrong economic steps and leading the country into a crisis. He said that due to his predecessor violating the agre­e­ment with the International Monetary Fund (IMF) his government was compelled to agree on tough conditions with the lender.
He also pointed to the IMF threat of abandoning the progra­mme if Pakistan failed to meet the conditions.
He then went on to claim that his government brought back Pakistan from the brink of an economic collapse.
However, the Pakistani rupee continued its fall as it fell by PKR1.56 against the dollar in the interbank market. The Pakistani rupee depreciated by 0.66% and closed at PKR235.88 per dollar.
They attributed this fall to the Shehbaz Sharif government’s rules and regulations on exchange companies due to which people were buying dollars from the grey market rather than coming to exchange companies.
Speaking to news agency Dawn, Exchange Companies Association of Pakistan (Ecap) General Secretary Zafar Paracha said the Pakistani rupee is facing pressure because ‘friendly countries, who had promised to give money, have not done so’.
He said Pakistan was not receiving aid because of a ‘trust deficit’.
He also blamed the floods but said that the political situation in Pakistan has changed the market’s sentiment.
The CEO of Topline Securities, a Pakistan-based company, told news agency the Dawn that the rupee will face pressure until Pakistan’s current account deficit is reduced or it receives inflows from friendly nations.
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