Former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan claimed on Sunday that the only option to save the country from default is to hold fresh elections, Aaj News reported.

While interacting with a delegation of the Council of Pakistan Newspapers Editors (CPNE) at his Lahore's Zaman Park residence, Imran Khan said that "looters" have brought the country to the verge of default.

"The country cannot achieve economic stability without political stability. And in the current economic situation, the only way out is fresh elections," Imran Khan said.

He said that the ruling coalition does not want early elections because they can foresee their defeat.

"Now, it would be neutral's true test to hold elections within three months, as per the Constitution," Imran said, in an apparent reference to the military establishment.

The former prime minister said that the current rulers were incompetent and unable to heal the ailing economy. "I fear the country might default [on its foreign debts] if elections are further delayed."

Imran said no political leader in this country is brave enough to dissolve its own government. "I'm ready to sacrifice two provincial governments only to save the economy."

His statement comes a day after he announced the dissolution of Punjab and Khyber Pakhtunkhwa (KP) assemblies on Friday, December 23.

Addressing his party's workers and supporters from his residence in Lahore's Zaman Park on Saturday, the PTI chief reiterated the call for “fresh and fair elections,” stressing that the country was drowning as skilled people and professionals were leaving Pakistan in big numbers.

The former prime minister claimed that over 750,000 Pakistani left the country during the last seven months.

Imran said unemployment and inflation were on the rise and foreign confidence was drying up. “Loans keep on increasing. There was only one way to solve this which we did: to increase the country’s wealth. They (the government) don’t have a plan.”