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Filipino corruption of "fucking shit!" Filipinos pronounce their "F"s as "P"s and tend to abbreviate words, hence "pakshet"
Nephew: "Tito Boy, we are out of beer!"
Drunk Uncle: "Pakshet! Go get more!"
by hellawhitepnoy April 20, 2009
noun. A combination of "fuck" and "shit" used by the Filipino community used in stressful or frustrating situations, albeit in a mild-mannered and sometimes humorous way.
Why isn't this page loading? PAKSHET!

Why you cut the line in front of me? PAKSHET NAMAN YOU!
by theflyingipis October 15, 2011