New Delhi, Dec 16 (IANS): Shabbar Zaidi, former chairman of the Pakistan Federal Board of Revenue (FBR), has expressed belief that Pakistan has gone bankrupt and the government's claims, that the country is doing very well, achieving great success and changing, are all wrong, Geo News reported.

Using the accounting term "going concern" as a reference point for the audience, Zaidi said that he believes the country, at the moment, has gone bankrupt, the report said.

Zaidi added that it is better to accept that a country's economy has gone bankrupt and find solutions rather than deceive people by claiming that it is doing well.

However, in a thread of tweets, Zaidi clarified that his words were taken out of context and had been misreported. While agreeing that he did say that there are issues of bankruptcy and going concern, Zaidi pointed out that we must look at the solution too.

Zaidi served as the FBR chairman in the government of Pak Prime Minister Imran Khan from May 10, 2019 to April 8, 2020.

He shared his thoughts at a recent speech he gave at Hamdard University. But Zaidi later took to Twitter to say that "only three minutes of his speech have been cherry-picked" and circulated. He said he spoke about the solution as well.