Kaiser Bengali says country is bankrupt; no one is willing to grant us loans

ISLAMABAD: Prominent economist Dr. Kaiser Bengali reaffirmed on Monday that he will not take back his resignation from the official committees.

Speaking to the media after tendering his resignation on Saturday, Dr. Bengali made it clear that he would not rejoin the government committees.

Dr. Bengali painted a bleak picture of the country’s financial situation, stating, “The country is bankrupt; no one is willing to grant us loans.” He also mentioned that foreign companies are exiting Pakistan.

However, he expressed his willingness to provide assistance if requested, similar to how he has been supporting the governments of Sindh and Balochistan.

“Our attempts to sell state-owned entities have failed because there are no interested buyers,” he added.

Dr. Bengali criticized the lack of attention from Islamabad to the deteriorating economy and advocated for tax and interest rate cuts to support the struggling industry.

“I have been advising for the past 10 years to reduce expenditures and cut imports,” he emphasized. “Closing down institutions will not solve the problems.”

In response to his resignation, a government spokesperson dismissed it as a misunderstanding, explaining that the government’s right-sizing efforts are not limited to grades 1 to 16, but extend to all positions from grades 1 to 22.