Moody’s report added that the countrys ‘weak institutions and governance strength’ had added uncertainty around the future direction of macroeconomic policy, including whether Pakistan would complete the IMF EFF programme
Blaming Pakistan’s bureaucratic system, Prime Minister Imran Khan admitted that his government could not bring the desired “changes” in the country.
Speaking at a government event in Islamabad, Khan on Thursday said that he wanted to bring "revolutionary changes" at the start of his term, but he could not do it because the "system was incapable of absorbing shock,” Dawn newspaper reported.
The prime minister further said the government and ministries had not given the desired results.
The former chief of Pakistan’s tax agency, Shabbar Zaidi, has said that the Islamist nation has gone bankrupt and that the government had been lying about the country's prosperity.
Speaking on Pakistan's economic condition at Hamdard University on Wednesday, the former chairman of the Federal Board of Revenue said that the country was not in a state of “going concern” an accounting terminology referring to a business that is operating and making a profit.