‘We are bankrupt’: Pakistan’s Defence Minister blames govt for economic crisis, says IMF has no solution

Pakistan’s Defence Minister Khawaja Asif blames the establishment, bureaucracy, and politicians for the country’s “bankruptcy” on Saturday. 

The price of a litre of milk in Pakistan has increased to 250 Pakistani rupees, while the price of chicken, a staple food in Islamabad, has increased to 780 rupees a kilogramme, prompting the defence minister to declare the nation to be "bankrupt."

Pakistan witnessed a new high for annual inflation of around 40%. Due to the ongoing increase in the cost of necessities, Pakistan, which is already tight for cash, saw its inflation soar to 38.42 per cent this week.

On February 15, in response to growing inflation, the government raised the price of gasoline and diesel by Rs. 22.20 and Rs. 17.20, respectively, per litre.

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“The solution to our problems lies within the country. The IMF does not have the solution to Pakistan's problems," PML-N leader Khwaja Asif claimed that the IMF did not have the answer to Pakistan's problems.

The minister made his statement as bread and water prices in the nation reached record highs. According to Asif, Pakistan has "already defaulted" and has not been in default.

Asif further states that in his 33 years in Parliament, he has witnessed the country's politics being disgraced for 32 of those years.

Khwaja Asif even criticised the previous PTI-led Imran Khan government for promoting terrorism in the nation and enabling the threat to return to Pakistan during the event held at a private college.

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According to reports, he also claimed that Imran Khan had created a game wherein terrorism was now Pakistan's fate.

Asif noted that Pakistan's debt had climbed by 23% in just one year and that the government was pleading with the IMF for assistance for the 23rd time in 75 years.