Begging bowl: Pakistan PM says he feels “ashamed” seeking loans abroad

Addressing an event recently, Sharif said it was embarrassing for him and Army Chief Field Marshal Asim Munir to approach foreign governments for loans and aid.

“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,” Sharif was quoted by local media as saying.

Highlighting the urgent need for economic reform, the prime minister stressed that Pakistan must chart an alternative economic strategy to reduce dependence on external borrowing.

Sharif described China as a “time-tested” friend and acknowledged the continued support of key allies.

“China is the most time-tested friend of Pakistan. Saudi Arabia is one of the most reliable and trustworthy friends of Pakistan. This applies to Turkey, Qatar and the UAE,” he said.

However, he noted that these countries now expect Pakistan to shift from aid-based engagement to mutually beneficial economic partnerships.

“They expect us to engage them in trade, commerce, innovation, research and development, education and health, investments, and profitable ventures mutually. They no longer expect us to go there with a begging bowl,” Sharif said.

Calling for self-reliance, the prime minister urged the country to harness its natural and human resources to overcome the financial crisis.

“I am the last person, along with Field Marshal Asim Munir, to carry this economic burden any more on our shoulders. The Almighty has blessed us with natural and human resources. We must make full use of them and deploy them for profitable ventures,” he said.

Sharif’s remarks come at a time when India and the European Union have formally concluded negotiations on what leaders have described as the “mother of all deals” — a comprehensive Free Trade Agreement (FTA) coupled with a mobility framework and a new security and defence partnership.

The landmark agreement, finalised after nearly two decades of intermittent negotiations, is expected to significantly enhance trade, people-to-people mobility, and strategic cooperation between New Delhi and the 27 EU member states.