Analysts pins hopes on new coalition to redress acute economic crisis

PESHAWAR: The political analysts and academicians have pinned their hopes on the upcoming coalition government for redressing of the acute economic crisis currently faced by the country. In 12th general elections conducted on February 8, 2024, no a clear winner has been emerged and no single political party is in a position to form government on the basis of its own parliamentary strength. Although the independent candidates allied with the Pakistan Tehrik-e-Insaf (PTI) has won more seats in the National Assembly, followed by the former Prime Minister Nawaz Sharif led Pakistan Muslim League-Nawaz (PML-N), Pakistan people's Party (PPP) and Muthahida Qaumi Movement (MQM). For formation of federal government, PML-N and PPP following days of negotiations have reached on an agreement to form a coalition government. The agreement between both political parties is being seen as a breakthrough towards the formation of a stable government at national level and political stability in the country. In his comment on the situation, Professor Dr. A.Z Hilali, a former chairman of the Department of Political Science at University of Peshawar (UoP) said that as no political party has won absolute majority, needed to form government on its own. So the future government may have to contend with the issues of political and economic instabilities. It may have to be focus on navigating internal politics and solidarity and unity of the nation, which is challenging, but approachable task. The Prime Minister designate, Shahbaz Sharif recently before the general elections had headed the coalition government of the Pakistan Democratic Movement (PDM) for a period of 16 months and also served three times Chief Minister of the largest province of Punjab is experienced in running coalition government. Similarly, his coalition partner former President of Pakistan Asif Ali Zardari is also known for successful operation of coalition governments. The combination of senior politicians like former President of Pakistan, Asif Ali Zardari, Moh ammad Nawaz Sharif and Mohammad Shahbaz Sharif would ultimately prove successful and deliver, said Adnan Khan, a local businessman. He called for imposition of all those small and medium business concerns and individuals with earnings under tax-net through a fixed tax on them and granting of relief to general public through arrest of the current inflation rate. According to Professor A. Z Hilali, Pakistan is a nation already beset by a severe economic hardship and deep political division. The economy, he said is in dire strait with rapidly weakening currency and high inflation rate where 30 to 40% population is living under poverty. Nonetheless, he this is appropriate time for the political government to reduce the frustration of the people and economic burden on the poor people. The new government, he said must address the acute economic crisis currently faced by the country and try their best to avoid further burden of the International Monetary Fund (IMF) conditionalities, which is critical for the peop le. He said that it should also be remembered that the country people cannot afford any kind of political turmoil.