SIALKOT — On Saturday, Defense Minister Khawaja Asif confessed that Pakistan has defaulted on its debts, citing the country’s deteriorating economic circumstances and the uncertainties surrounding the renewal of the IMF loan programme.

Asif, speaking at the annual convocation of a private institution in his hometown of Sialkot, said, “We are living in a bankrupt nation.” He criticised the establishment, bureaucracy, and politicians for the country’s deteriorating predicament.

The PML-N leader said that the IMF programme will not solve Pakistan’s difficulties and emphasised that the issues could be resolved organically. He said that Pakistan’s debt might be substantially reduced if merely two golf courses constructed on government-owned property were sold. He said that by selling these two clubs, Pakistan might pay off a quarter of its overall debt.

In addition to expressing his condolences for the lives lost in the battle against terrorism, the minister of defence said that security services were working tirelessly to eradicate the scourge of terrorism.

In an apparent jab at the PTI administrations, he stated that terrorists were let to re-establish themselves in the nation two years ago.

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