Colombo, May 16 The Pakistani government’s pompous display of diplomatic prowess may help secure quick last-minute loans, but is unlikely to remain sustainable in the long run.
Unless the leaders commit to austerity measures, curb wasteful spending, and focus on addressing structural issues through reforms, the economy risks becoming all “noise and no substance”, a report said on Saturday.
"Many things are not alright with Pakistan’s economy: the deepening foreign exchange crisis, prolonged border skirmishes with Afghanistan, rising oil prices and commodity shortages due to the West Asian crisis, and structural issues of rising poverty and unemployment,” a report in Sri Lanka's leading newspaper, Daily Mirror, stated.
“The economic crisis is already being addressed by the massive credit flow of two IMF tranches, received as recently as December 2025; however, the economy is far from sustainable stabilisation, as is evident by the recent run to Saudi Arabia for a loan to manage the forex shortage,” it added.
According to the report, in such economic distress, one would expect the country's leaders to work seriously to resolve the crisis created by their fiscal indiscipline and strictly follow the austerity measures laid down by the multilateral banks. However, the realities of Pakistan's leaders appear far from meeting these expectations.
“Indeed, the leaders have proved their mettle in addressing the crisis: the mettle that lies in knocking on doors from time to time for newer loans. And surprisingly, the leaders sitting in Islamabad have been time and again successful in their endeavours. However, the ‘sitting’ here in the above statement is only metaphorical, as in reality, they are often found on planes outbound from Pakistan, the report mentioned.
Since returning to office for the second term in 2024, the report said, Pakistani Prime Minister Shehbaz Sharif has made more than 40 international trips spanning nearly 20 countries, with repeated visits to several nations.
Additionally, Pakistani Army chief Asim Munir, who was promoted to field marshal last year, has also increased the frequency of his overseas trips, nearly matching the PM's overseas visits.
“Though the trips have been made on account of seeking foreign financial help to address the ongoing economic crisis, as well as for security and strategic purposes, there also exists a deep-seated scepticism about the way the trips are conducted,” the report noted.
Citing reports, it said that foreign trips undertaken by the Pakistani leadership have resulted in considerable expenses amid the economic crisis in the country.
“This is despite the ironic fact that the PM urged people to avoid unnecessary travel to support austerity measures, while he doesn’t seem to be heeding his own advice,” the Daily Mirror reported.
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