Pakistan Prime Minister Shehbaz Sharif has announced plans to hand over power to a caretaker government next month, paving the way for upcoming general elections. In a televised speech to the nation on Thursday, Sharif stated that the responsibility will be transferred to the caretaker government in August 2023. Sharif assumed office in April 2022 after leading a coalition of parties that ousted Imran Khan through a parliamentary vote of no-confidence. His term will come to an end in mid-August.
The caretaker government, also known as the interim government, is responsible for overseeing the national election process, which must be held within 60 days of the dissolution of the National Assembly. In the event that the Assembly is dissolved just days before the completion of its term, the elections are to be conducted within 90 days. The specific date for the polls will be announced by the Election Commission.
With this announcement, Pakistan is moving closer to holding national elections later this year. However, the government has yet to declare when it will dissolve the National Assembly, the lower house of parliament. The upcoming elections aim to bring an end to the political instability that has plagued the country since the removal of former Prime Minister Imran Khan in April last year. Khan’s brief arrest on corruption charges in May triggered violence, and subsequent measures against his party and supporters resulted in a significant decline in his political influence.
The political turmoil has also posed challenges to Pakistan’s fragile economic situation. The country has experienced a sharp decline in economic growth, grappling with record borrowing costs and persistent high inflation. To avoid a potential debt default, Pakistan secured a last-minute short-term initial deal with the International Monetary Fund, worth $6.7 billion, just before the expiration of a loan program.
Addressing the economic challenges, Prime Minister Shehbaz Sharif emphasized the importance of achieving self-sufficiency and reducing reliance on external assistance. The only way we have now is to break the begging bowl and stand on our own feet, he stated, referring to Pakistan’s external debt.
Completing its five-year term, the National Assembly will achieve such a milestone only for the third time in the 76-year history of Pakistan. However, no prime minister has served a full tenure during this time. Nevertheless, this can be regarded as a positive indication of a strengthening democracy in a country that has been under direct military control for a significant portion of its post-independence history.
Indeed, Pakistan is in need of a stable government to effectively address its pressing economic challenges. The improved political stability resulting from the upcoming elections could play a crucial role in tackling the issues of economic growth, borrowing costs, and inflation. The International Monetary Fund continues to monitor the government’s efforts, assessing whether it is taking sufficient measures to fulfill the conditions of the bailout agreement.
In conclusion, Pakistan’s Prime Minister Shehbaz Sharif’s announcement regarding the transition of power to a caretaker government marks a significant step towards the upcoming general elections. The decision aims to bring an end to the country’s political volatility, which has taken a toll on its economy. The successful completion of the National Assembly’s five-year term and the transfer of power showcase the progress of Pakistan’s democracy. The upcoming elections will play a crucial role in shaping the country’s future and addressing its economic challenges.
