Senator Slams Pakistan’s Loan Addiction: ‘We Celebrate Debt Like the Birth of a Child

The Senate Standing Committee on Economic Affairs has voiced sharp criticism over Pakistan’s mounting reliance on foreign loans. Chairing the session, Senator Saifullah Abro took aim at the government’s persistent borrowing, likening the nation’s attitude toward new loans to that of celebrating a newborn child.

During a heated discussion, Senator Abro remarked,

“What’s the point of taking loans that push the country toward collapse? The real issue is that we borrow only to repay old loans. Every morning, the news proudly announces a $100 million loan as if a son has been born.”

Committee Questions Loan Culture

The remarks came as the committee reviewed Pakistan’s borrowing record from the International Monetary Fund (IMF) and other international creditors. Lawmakers expressed frustration that successive governments have glorified loan approvals rather than focusing on sustainable economic reforms.

Several members emphasized that this culture of dependency is eroding Pakistan’s financial sovereignty and leaving little room for long-term growth.

Data Still Fragmented

Officials from the Ministry of Economic Affairs informed the committee that complete loan data from 1984 to 2025 exists but under various programs. The State Bank of Pakistan (SBP) added that data since 2008 has been digitized, while older records remain in manual archives, making access and transparency difficult.

Senator’s Directive

Senator Abro directed the ministry to compile and present a comprehensive report on all loans obtained since 2008 in the next meeting. In his closing remarks, he criticized how Pakistan’s economic narrative has shifted over the years.

“After 2008, we’ve seen the rise of new Pakistan, old Pakistan, and many Pakistans — all built on borrowed money,” Abro said, summing up the nation’s growing debt dilemma.

A Wake-Up Call for Economic Reform

The statement has sparked renewed debate over Pakistan’s debt dependency, with economists urging policymakers to prioritize exports, taxation reform, and local industry revival over foreign borrowing.

As the rupee weakens and repayment pressures grow, experts warn that without fiscal discipline, Pakistan risks repeating the same cycle Senator Abro so vividly criticized  celebrating every new loan as if it were a moment of national pride.