'We won't fix it, we'll take more debt': Pak minister on why the country's economy is collapsing

Amid economic turmoil, Interior Minister Mohsin Naqvi stressed the need for critical reforms in Pakistan's governance system. Amid mounting economic challenges and a growing debt burden, Pakistan's interior minister Mohsin Naqvi acknowledged that the country's governance and financial system are under severe strain, saying the problems have persisted for decades and require structural reform rather than temporary fixes.Pakistan's Minister of Interior Mohsin Naqvi criticised the country's repeated reliance on borrowing instead of addressing the underlying issues. (AP)The minister said successive governments and political parties have long been aware of the country's worsening financial position but have failed to address it in a meaningful way.'We won't fix it, we will take more debt': What Naqvi saidTurning to Pakistan's finances, the minister criticised the country's repeated reliance on borrowing instead of addressing the underlying issues.Also read | 'Cockroach' fear reaches Pakistan, top minister says 'they can overturn everything'“Look at the state of Pakistan's federal budget. We only talk about how to manage your budget in a negative way. We are going to talk about how much debt you have to take this year,” Naqvi said while addressing a gathering, videos of which were shared by Pakistan news outlets.He said everyone involved in politics was aware of the problem.Also read | 'Indians, including Gen-Z, want them to end terror': MEA on reports of Pakistan support for CJP protest"All of you sitting here know this. All the political parties know this. The government also knows this. All of us know this."Questioning the lack of action, he said, "But isn't it our duty to fix this? We won't fix it. We will take more debt. We won't fix it. Who is going to fix it? We will. But we are not doing it."The minister also warned that Pakistan's debt would continue to rise unless fundamental reforms were undertaken.Also read | Will Pakistan invite PM Modi for SCO Summit next year? What Islamabad said"Your debt is increasing every year. You can balance it however you want. You can do whatever you want. Until you reset this system."'The system has collapsed'Reflecting on Pakistan's political and administrative structure, the minister said the existing system was no longer functioning as it should."Today, I would like to talk about the system in which we live, which has collapsed. Whether you believe it or not. One thing that has been dragging on for 70 years."He stressed that he remained committed to democracy but argued that democratic governance could take different forms."I will say today that we all want a democracy. And I am its biggest supporter and will always be. But even within a democracy, there are 3, 4, 5 types of systems. There is not just one system."He added, “But we say no. Whatever happens, however it happens. We have to drag this, we have to run this.”Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read MoreGovernanceDemocracyDebtPakistanGet the latest World News, breaking headlines and global updates from the US, UK, Pakistan, Bangladesh, Russia and other countries. Follow major international events on Hindustan Times.