Shabbar says strict terms of Saudi funds poison for Pakistani economy

By: News Desk      Published: 09:08 PM, 30 Nov, 2021
Shabbar says strict terms of Saudi funds poison for Pakistani economy

Former chairman of the Federal Board of Revenue (FBR) Syed Mohammad Shabbar Zaidi advised the Pakistani government must refuse Saudi Arabia’s dollar on strict terms.

Expressing his views in the 24News HD TV channel’s program—Dastak, the economy expert said a loan of billions of dollars from Saudi Arabia was poison for the Pakistani economy.

Shabbar said the Imran led government should refuse to accept the said Arab dollars on the hard terms and Prime Minister should think over it seriously.

He said despite an agreement, Pakistan could say to Saudi Arabia that as a very good brother Islamic country, they should keep their funds with them.

The former FBR chairman also said that Pakistan should say to Saudi Arabia that the Pakistani government were not crazy enough to get a loan on such strict terms.

Shabbar suggested that Imran led the government to issue Sakook Bonds to cover the current financial crisis.

He asked PM Imran Khan that the integrity and honour of Pakistan and Pakistanis have been compromised on the agreement with Saudi Arabia.

Syed Mohammad Shabbar Zaidi is a Pakistani chartered accountant who served as the 26th Chairman of the FBR from May 2019 till April 2020.

He has also served as a provincial Minister in the Government of Sindh during the 2013 caretaker setup.