'Receiving many jet orders, won't need IMF's help': Pakistan minister
What's the story
Pakistan's Defense Minister Khawaja Asif has claimed that the country is receiving record orders for fighter jets that it may not need future bailouts from the International Monetary Fund (IMF). The minister attributed this surge to the four-day conflict with India in May 2025, which he said showcased Pakistan's military capabilities. "Our aircraft have been tested, and we are receiving so many orders that Pakistan may not need the IMF in six months," Asif told GeoTV.
Asif
'May not need IMF after 6 months'
"Right now, the number of orders we are receiving after reaching this point is significant because our aircraft have been tested," Asif said. "We are receiving those orders, and it is possible that after six months we may not even need the IMF," he added. Pakistan has repeatedly turned to IMF for financial assistance to stabilize its economy. These loans are subject to strict conditions, including fiscal reforms, subsidy cutbacks, and revenue-generating initiatives that Pakistan must implement to receive loans.
Economic reality
Expert challenges Asif's claim on fighter jet sales
Pakistani political scientist Ayesha Siddiqa has challenged Asif's claims. She pointed out that Pakistan only assembles the JF-17 Thunder jets and imports most components from other countries. The country produces a mere 35% of the airframe, with revenues shared with China, the principal designer and manufacturer. Given these factors, Siddiqa argued that even optimistic jet sales would not significantly offset Pakistan's debt burden of around $300 billion.
Military assessment
Pakistan's military losses contradict Asif's claims
Asif's claims about the performance of Pakistani jets in the mini-war with India have also been contradicted by assessments of military losses. The Pakistan Air Force is believed to have lost between four and nine fighter jets, including those destroyed on the ground during Indian strikes. Nearly 20% of PAF infrastructure across 11 air bases suffered extensive damage, crippling critical assets such as Saab 2000 AWACS and TPS-43J radar systems.
Economic crisis
Pakistan's economic situation remains dire
Reports also indicate that Pakistan is still looking for ways to convince the IMF to relax key macroeconomic and fiscal parameters for its 2026-27 budget. The country is also considering requesting relief from stringent loan conditions imposed by the IMF. Pakistani economist Qaiser Bengali in November said that Pakistan had "already defaulted," adding that if lenders such as China or Saudi Arabia refuse rollovers or fresh financing, the economy would collapse.