ISLAMABAD: Defence Minister Khawaja Asif has said that Pakistan has already defaulted amid looming fears that the cash-starved country may go bankrupt and blamed the establishment, bureaucracy and politicians for the prevailing economic crisis.
Addressing a ceremony in his home town of Sialkot, he said that standing on its own feet was crucial for Pakistan to stabilise itself.
“You must have heard that Pakistan is going bankrupt or that a default or meltdown is taking place. It (default) has already taken place. We are living in a bankrupt country,” he was quoted as saying by reporters.
“The solution to our problems lies within the country. The IMF does not have the solution,” he said.
He said everyone, including the establishment, bureaucracy and politicians, are to blame for the mess.