'Ashamed to beg': Shehbaz Sharif details the lengths he and Army chief Munir went to keep Pakistan afloat

Pakistan Prime Minister Shehbaz Sharif has made a rare and candid admission about the country’s worsening financial crisis, saying he feels “ashamed” while seeking billions of dollars in loans from friendly nations to keep the economy from collapsing.

Speaking at an interaction with exporters and business leaders in Islamabad, Sharif said Pakistan’s leaders are being pushed into humiliating positions due to the nation’s growing dependence on external financing, ANI reported, citing local media.

‘We Cannot Say No’: PM’s Stark Warning on Loan Dependency

Addressing the gathering, Sharif revealed that both he and Pakistan Army chief Field Marshal Asim Munir have been forced to travel abroad quietly to secure financial support.


“We feel ashamed when Field Marshal Asim Munir and I go around the world begging for money,” Sharif said, according to ANI.

“Taking loans is a huge burden on our self-respect. Our heads bow down in shame. We cannot say no to many things they want us to do.”

The Prime Minister warned that excessive borrowing leaves Pakistan vulnerable to conditions that often go against its long-term national interest.

Reliance on Allies: China, Saudi Arabia, UAE and Qatar

Despite his discomfort, Sharif acknowledged the crucial role played by Pakistan’s traditional allies in helping the country manage repeated economic shocks.

He thanked China, Saudi Arabia, the United Arab Emirates and Qatar for extending support during difficult times, referring to China as Pakistan’s “all-weather friend”. Much of Pakistan’s recent external assistance has come from these nations in the form of loans, deposits and deferred payments.

A Familiar Confession: Not the First Time Sharif Spoke Out

This is not the first time Shehbaz Sharif has publicly expressed unease over Pakistan’s borrowing spree. In January 2023, he had admitted that repeatedly seeking loans was embarrassing, even while recognising Saudi Arabia’s financial backing.

Over the years, Sharif has repeatedly stressed that Pakistan must become economically self-reliant and move away from its heavy dependence on International Monetary Fund (IMF) programmes.

Pakistan’s Mounting Debt Crisis Explained

Pakistan’s economic challenges have deepened sharply in recent years. As of March 2025, the country’s total public debt had crossed Rs 76,000 billion, nearly doubling in just four years, according to official figures.

The nation relies heavily on IMF bailouts and Chinese loans, particularly linked to the China-Pakistan Economic Corridor (CPEC), to meet debt servicing obligations and avoid default.

IMF Bailouts Keep Economy Afloat, for Now

In September 2024, the IMF approved a $7 billion bailout for Pakistan under its Extended Fund Facility (EFF). This was followed by an additional $1.4 billion loan in May 2025 through the IMF’s climate resilience fund, aimed at supporting economic stability and climate-related reforms.

While these packages have offered temporary relief, Sharif’s remarks underline a growing realisation within Pakistan’s leadership: borrowing can no longer be a permanent solution.

Inputs from TOI