Islamabad, Jan 20 (IANS): As Pakistan faces a myriad of challenges like skyrocketing inflation, unemployment, depleting foreign exchange reserves and shortage of essential commodities, former Prime Minister Imran Khan warned that the country could slide into Sri Lanka-like situation if "free and fair" elections were not held by the incumbent government.

The PTI chief also noted that the country was passing through a critical juncture, The Express Tribune reported.

"Pakistan is not in a position to bear any delay in elections. Any compromise on the transparency of elections or political engineering will be tantamount to enmity with the nation," he said.

"Only elections can prevent Pakistan's slide into Sri Lanka-like situation."

Khan held incumbent Finance Minister Ishaq Dar for the continuing economic meltdown and observed that "voices of split could be heard with the (ruling) PML-N".

The PTI chief observed that the PDM-led coalition government had failed on all the fronts, alleging that it was using the people's resources for its personal gain, The Express Tribune reported.

"Only the PTI government can save the country from crises," he said.

Khan clarified that the PTI was not mulling over any option to lodge protests on streets if the date for the general elections was not announced.

Last year, Sri Lanka's economy had collapsed, schools were shut down indefinitely and critical shortage of essential items was witnessed as the country had failed to repay its debts.