Shabbar Zaidi believes Pakistan has gone bankrupt

Former chairman of federal board of revenue Shabbar Zaidi has said in his point of view the country has gone bankrupt contrary to the claims that Pakistan is doing very well and achieved ‘great success’ and similar claims of bringing change. He termed all the financial claims, “wrong.”

Addressing a function in a private university, Shabbar Zaidi said that in terms of accounting ‘Pakistan has gone bankrupt.”

My speech in Hamdard University is being misreported. There was a presentation of half & hour. Only three minutes have been cherry picked. Yes I said that with this constant current account & fiscal deficit there are issues of bankruptcy & going concern but look at the solution.

— SyedShabbarZaidi (@SShabbarZaidi) December 16, 2021

Zaidi said, “When you accept that we are bankrupt then you go beyond from that acceptance. It is better than claiming country is doing great. These claims are deceptive things.”

It is better to accept that a country's economy has gone bankrupt and find solutions rather than deceive people that it is doing well, says Zaidi

Later in his statement on social media, Shabbar Zaidi said that his statement was being misreported in a private university.

According to Shabbar Zaidi, he had only said that the current account and fiscal deficit issues were showing a worrying situation like bankruptcy.

It may be pertinent to mention that Shabbar Zaidi was the Chairman FBR from May 10, 2019 to April 8, 2020 in the government of Prime Minister Imran Khan.

What I said was with a basis & conviction. I only want to say that whole speech is to read and listened.

— SyedShabbarZaidi (@SShabbarZaidi) December 16, 2021