PM Shehbaz Sharif fears ‘all hell to break loose’ sans debt relief

• Prime Minister Shahbaz Sharif has appealed for immediate debt relief for flood-affected Pakistan.
• Amir reminds the nations that Pakistan is paying the price for its greed.
• Asks how Pakistan can stand on its own feet unless “adequate relief” is given.

With the debt obligations looming, Prime Minister Shehbaz Sharif has appealed for urgent debt relief from rich countries, reminding them that Pakistan is trying to satisfy its greed for the debt it caused. Environmental damage is taking its toll.

In conversation with Bloomberg TVPrime Minister Shahbaz Sharif said that Pakistan has recently signed an agreement. Agreement with the International Monetary Fund (IMF). Under “extremely stringent” conditions, including taxes on petroleum and electricity.

Seeking relief for Pakistan, hit by devastating floods this monsoon while grappling with an already strained economy, Prime Minister Shahbaz Sharif said:

“Until we get Quite a relief How can the world expect us to stand on our feet? It’s just impossible,” he said. “The world has to stand with us.”

Responding to a question about the debt obligations, the prime minister said he had spoken to European leaders and other leaders “to help us, in the Paris Club, to get a moratorium”.

There is a “world’s gap” between what Pakistan is asking for and what is available, according to Prime Minister Shehbaz Sharif, who warned that the nation faces an imminent threat of pandemics and other threats.

“God forbid it should happen, all will be hell.” [break loose]”They said.

The Pakistani leader said that he has spoken to the World Bank about immediate debt relief and will start talks with China after the Paris Club.

Pakistan owes China $30 billion, or about one-third of its total external debt.

he said the flood Unprecedented cloudbursts were the result of climate change due to environmental damage caused by fossil fuels.

“So it’s not our job, it’s our creation. Our carbon emissions are less than 1% and to be precise, it’s 0.08%, which is the lowest in the world. But we are among the most vulnerable countries. goes

“Basically I want to be in my country with my people in the flood affected areas with children, boys, girls and people who have been badly affected, to comfort them and provide them with some relief. But I am here to tell the world what happened to us and our people.

“Is the word enough and what can be done?” He was asked.

On this, he said that the presidents of America, Turkey and France have discussed this topic and appreciated their concern.

What they have done is commendable but it is far from meeting our needs. We cannot do this alone. You know that we cannot draw resources from our pockets, which are already insufficient to meet our needs. We need additional funds.”

“So I think, as long as the world spends billions of dollars in aid, building resilient infrastructure, and [for] Adaptation of infrastructure in agriculture and housing, things will not return to normal,” he said.

Regarding his conversation with Russian President Vladimir Putin, the Prime Minister said that he spoke to the Russian President about the availability of gas and oil and Putin promised him that he would definitely consider it.