PESHAWAR: Political analysts and academics have pinned their hopes on the incoming coalition government to remedy the acute economic crisis the country is currently facing.
The 12th general election held on 8 February 2024 did not produce a clear winner and no political party is able to form a government based on its own parliamentary strength.
Although independent candidates allied with Pakistan Tehrik-e-Insaf (PTI) won more seats in the National Assembly, followed by former Prime Minister Nawaz Sharif led Pakistan Muslim League-Nawaz (PML-N), Pakistan People’s Party (PPP) and Mutahida Qaumi Movement ( MQM).
To form the federal government, PML-N and PPP reached an agreement to form a coalition government after days of negotiations.
The agreement between the two political parties is seen as a breakthrough towards the formation of a stable government at the national level and political stability in the country.
Professor Dr. Commenting on the situation, A. Z Hilali, former chairman of the Department of Political Science at the University of Peshawar (UoP), said that since no political party had won an absolute majority, it needed to form the government on its own.
Thus, the future government may have to deal with the problems of political and economic instability. He may have to focus on navigating domestic politics and the solidarity and unity of the nation, a challenging but approachable task.
Prime Minister-designate Shahbaz Sharif headed the Pakistan Democratic Movement (PDM) coalition government for 16 months before the recent general elections and also served three terms as the chief minister of the largest province, Punjab. He has experience leading a coalition government. .
Similarly, his coalition partner former President of Pakistan Asif Ali Zardari is also known for the successful functioning of coalition governments.
The alliance of senior politicians like former President of Pakistan Asif Ali Zardari, Mohammad Nawaz Sharif and Mohammad Shahbaz Sharif would ultimately prove successful and bring it about, said Adnan Khan, a local businessman.
He called for taxing all those small and medium enterprises and individuals with incomes under taxation through a flat tax and providing relief to the general public by stopping the current rate of inflation.
According to Professor A. Z Hilali, Pakistan is a nation already beset by serious economic difficulties and deep political divisions. According to him, the economy is in dire straits with a rapidly weakening currency and a high rate of inflation, with 30 to 40% of the population living below poverty. However, it is a good time for the political government to reduce the frustration of the people and the economic burden of the poor people.
According to him, the new government must deal with the acute economic crisis the country is currently facing and try its best to avoid further burden of International Monetary Fund (IMF) conditionality which is critical for the people.
He said it should also be remembered that the rural people cannot afford any political unrest.
