Prime Minister Shehbaz Sharif said that it was embarrassing for him to seek more loans from friendly countries, but he was helpless due to the country’s worsening economic crisis.
He also stated that asking for aid was not a permanent solution for the cash-strapped country’s economic challenges.
Sharif gave the statement days after the United Arab Emirates agreed to roll over $2 billion owed by Pakistan and provide the country with an extra loan of $1 billion as it struggles to recover from devastating floods this summer and a grave economic crisis.
Sharif said that it really embarrassed him to ask for further loans while praising Saudi Arabia for the financial support.