Pakistan facing worst economic crisis in history: Bilawal

MUNICH: Foreign Minister Bilawal Bhutto Zardari has said that Pakistan is facing the worst economic crisis in its history.

In an interview with American channel CNBC on the sidelines of the Munich Security Conference, the Pakistani Foreign minister said that the Ukrainian war and flood destroyed the country’s economy.

“Pakistan can solve its problems once again by becoming an emerging economy. It is going through a period where unconstitutional measures will no longer take place,” he maintained.

The PPP chairman said that they had discussed the climate change in Pakistan, country’s economy and the situation in Afghanistan.

About Defense Minister Khawaja Asif’s statement, Bilawal Bhutto said that the defense minister was speaking in a political context.

“Khawaja Asif was not talking about technical but difficult economic times.”

He said that they were facing the worst economic crisis.

“A large part of the country is submerged in the recent flood water. The flood disaster is due to the climate change. The flood has changed the direction of Pakistan’s economy. Pakistan is still facing difficulties and could not get out. We are negotiating with the IMF only to get out of this economic crisis,” he added.

He was of the view that the steps taken by the opposition had happened for the first time in history.

Bilawal also hinted that Imran Khan may not have a future in politics if he refuses to follow “the democratic path.”

Bilawal went on to note that he deemed two events in the past year as significant for Pakistan’s future: Imran’s ouster and former army chief General Qamar Javed Bajwa’s pledge of neutrality.

The vote of no confidence that took the PTI chief out of office, Bilwal described it as an “institutional and democratic milestone.”

“You might not like the results of it [the vote of no confidence] if you are from his party,” he said, “but in the course of Pakistan’s history, that is a fundamental achievement that a military man has not come in and pulled out the prime minister or a court has not ordered for them to go. The democratic process has been followed.”