Pakistan Has Gone Bankrupt, Claims Former FBR Chairman

Former chairman of the Federal Board of Revenue (FBR) Shabbar Zaidi has claimed that Pakistan has gone bankrupt and the government's claims regarding progress and development are all false.

He expressed these views while speaking at Hamdard University where he was invited as a guest speaker. During his speech, Zaidi stated that Pakistan as an entity is ‘bankrupt’, “We say that everything is good, we brought ‘Tabdeeli’ (change) but this is wrong, in my view, the country at this moment is bankrupt.”

He added that he did bring forth the concern of Pakistan going bankrupt, to which he also proposed finding the solution, “Yes, I said that with this constant current account and fiscal deficit there are issues of bankruptcy and going concern but look at the solution.”

Zaidi then also tweeted, “only three minutes of his speech have been cherry-picked” and circulated. He maintained that he also suggested solution to the problem.

However, Spokesperson Ministry of Finance, Muzzammil Aslam, remarked that public claims on Pakistan’s bankruptcy are a matter of concern. Zaidi repeated that Pakistan’s situation is not good also advised Muzzammil Aslam to go through the speech again, “I am not a politician. But I know some economics. The situation in Pakistan is not good.”