In Imran Khan’s government itself, Pakistan had come under the grip of inflation and the country was buried under the burden of huge debt. When Shehbaz Sharif came to power after Imran, he faced the same challenges on which Imran was being surrounded. Terrible economic crisis was heading towards Pakistan but Shahbaz ignored it. Then a catastrophic flood made things worse. Pakistani businessman Mian Mansha had predicted this crisis last year itself.
‘Relations with India have to be improved’
Mian Mansha is called ‘Ambani’ of Pakistan. He advised the government that Pakistan should deal with the IMF and attract foreign investors. He had said that Pakistan should open the closed border with India. Mian Mansha, who described India as the medicine for Pakistan’s every merge, had said that Pakistan would have to improve relations with India and start business to come out of FATF’s gray list.
Pakistan dependent on foreign aid
According to a data, Pakistan’s foreign exchange reserves have shrunk to $4.3 billion at this time. It is at its lowest level since February 2014. Pakistan has become completely dependent on foreign aid. Shahbaz Sharif is reaching out to Saudi Arabia and China for loans. A few days back, Shahbaz had said that he was ‘ashamed’ of seeking loans from friendly countries. ‘Actually taking loan is not the solution to Pakistani’s problem as it has to be repaid.’