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World News | Politicians scramble to grab power as Pakistan economy faces bankruptcy

World News | Politicians scramble to grab power as Pakistan economy faces bankruptcy

Islamabad [Pakistan]Jan 1 (ANI): Pakistani citizens are bearing the brunt of the ruler’s failed policies that have led to historic inflation, rising oil prices and rupee devaluation, warnings of imminent bankruptcy and more, The Express Tribune reports . .

It appears to be the closest the country has come to a nightmarish default, with the ruling party finding itself financially and intellectually bankrupt as Pakistan’s economy faces collapse.

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According to the British “Tribune Express” report, since the change of government in April, the parliament has been dysfunctional, and the parliament is on the verge of dissolution. Terrorism has risen again, political turmoil has intensified, and the economy has been damaged.

Amid all this, it was a year of rising populist narratives, with the PML-N-led ruling coalition doing all they could to avoid early voting; Even local body elections.

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Throughout the year, the political elite failed to agree to play by any rules of the game amid the country’s declining economic health, The Express Tribune reported.

The assassination attempt on PTI chief Imran Khan was another dark chapter in the previous year, fueling debate about the role of powerful people and refocusing attention on the central question: Who really runs the country?

From the “hybrid system” caught in its own strain, to parliamentary revolts that continue to hold back the incumbent regime, to a new government that came to power only to boost the previous government’s support, and the outgoing military chief’s acknowledgment of the military’s involvement in politics, according to The Tribune reported that it has a history of more than 7 years.

For the first time in Pakistan’s history, the nation witnessed an unprecedented press conference by the spy chief, berating the PTI chairman and party leadership for double standards, saying Khan called the then military chief a traitor “in the daytime but met him in Behind closed doors late at night” expressing his constitutional and unconstitutional wishes.

He revealed that the army chief shocked the nation in March when he received an offer to “extend indefinitely” the service when Khan was still in government and wanted to avoid an act of no-confidence.

Nearly half a year was wasted by political opponents arguing over who should be the next army commander in chief.

Moreover, the blame game dominates the political landscape. Despite the government’s lack of a clear plan to address the economic woes, the rallies, marches and ultimatums left little room for stability in almost all areas after the PTI issued an ultimatum in an attempt to force the federal government to call an election, Tribune Express reported.

As in previous years, blaming opponents remains the favorite sport of politicians, and the idea of ​​sitting across the table for the greater good of the country remains a distant dream in another year.

Few people cared about the estimated 33 million flood-affected people across the country, as the focus was mostly on optics rather than actual relief for those going through the harsh winter.

“The biggest development this year was the change of government and removal of the prime minister through a vote of no confidence for the first time in Pakistan’s history, but the bigger development behind this event was the end of the hybrid system; that was a real event,” noted political analyst Zaigham Khan Say.

Zaigham, also an anthropologist and development professional, said experiments with a new type of hybrid system began around 2012 through which a populist authoritarian regime was formed in which a populist party was supported by the establishment. support and, according to The Express Tribune, the system offers extremely limited space for opposition, human rights and civil society.

Renowned academic Professor Dr Hassan Askari cited government change, increased but unnecessary political confrontation, a faltering economy and rising terrorism as some of the key developments in the past year, saying the country managed to Avoid default last year “survive by charity”.

According to the Express Tribune, the emeritus professor pointed out, among other things, that the new government’s slow decision-making, especially in the appointment of the army commander-in-chief, has hurt the economy and the country.

Throughout the year, political decisions and indecision hurt the country in both directions; the IMF program was suspended in the final months of the PTI government as then finance ministers Shaukat Tarin and Imran Khan entered an expansionary economy on populist grounds, leaving The current account deficit ballooned to an unsustainable level of $18 billion. (Arnie)

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)

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