Pakistan Prime Minister Shehbaz Sharif made waves on Friday after voicing his frustration with the financial plight of the country. He stressed the need for alternative economic strategies as he revealed how Islamabad was forced to compromise and abide by instructions from other countries.
“We feel ashamed when Field Marshal Asim Munir and I go around the world BEGGING for money. 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,” local broadcaster A1tv quoted him as saying.
Some estimates suggest Pakistan has received more than $200 billion in commitments since its formation in 1947. The cash-strapped nation secured more than $4.5 billion in foreign assistance inflows between the six months spanning July to December 2025.
Which countries are aiding Pakistan?
Sharif’s admission of “begging” for loans highlights the country’s economic struggles and reliance on international assistance. This comes as Pakistan seeks IMF support and debt rollovers. The Pakistani leader praised “all-weather friend” China as well as Saudi Arabia, the UAE, and Qatar for their support — noting that these countries had supported Islamabad through both good times and bad.
These countries have provided Pakistan with critical financial support in recent years — helping stabilise foreign exchange reserves and prevent a balance-of-payments crisis.
- China has rolled over billions in safe deposits to help Pakistan meet debt obligations, with $4 billion projected for 2024-25. The China-Pakistan Economic Corridor is a key framework, with over $60 billion in energy and infrastructure investments.
- Saudi Arabia extended a $3 billion deposit with the State Bank of Pakistan in December 2024 and provided a deferred oil payment facility of approximately $1.2 billion in 2025. Riyadh has pledged significant investments in mining, agriculture, and IT, with potential plans totalling $5- $ 25 billion.
- The UAE rolled over a $2 billion loan in early 2025 and committed to investing billions in Pakistan’s energy, port operations, and wastewater treatment sectors, targeting $10-25 billion.
- Qatar signed a protocol to realize $3 billion in investments, focusing on aviation, agriculture, and hospitality, and is a key energy supplier, particularly for LNG.
Collapsing economy
Sharif revealed that the Pakistani economy ad been on the verge of technical default when he took over as PM. He also referred to his 2023 meeting with the Managing Director of the International Monetary Fund in Paris, after which the global lender approved an economic programme that helped stabilise the country’s economy.
“When we assumed office, the economic situation was extremely fragile, and the common man faced severe hardships,” he said.