Increasing political uncertainty could throw a spanner in the works of Pakistan’s dealings with the IMF
By Staff Reporter
ISLAMABAD: Pakistan’s ruling coalition is huddling together yet again Monday – this time to deliberate ways and means to counter the political onslaught of Imran Khan, the prime minister they ousted from power.
The chairman of his own Pakistan Tehreek-e-Insaf (PTI) party Khan on his part announced a sit in in Islamabad on May 25, 2022.
While this is a climb-down from his earlier threat to lead millions in a long march on Islamabad, the gambit still harbours hazards for a government in threadbare negotiations with the International Monetary Fund (IMF).
Finance Minister Miftah Ismail, who left for Doha this morning for policy level talks with the Fund, is optimistic he can clinch a deal Pakistan needs to avert a balance of payments crisis verging on default.
Khan camping out in Islamabad along with a horde of his loyalist could create enough political uncertainty to undermine the administration’s credibility to deliver on any promises, prompting IMF negotiators to insist on a frontloaded deal.
Sources within the PML-N say Prime Minister Shehbaz Sharif has invited all the party heads of his Pakistan Democratic Front (PDM) alliance to devise a consensus strategy to cope with Khan’s challenge.
Khan is insisting on an immediate elections and threatens to stay put in Islamabad along with his loyalists until an announcement to that effect is made. And he has called upon ‘the neutrals’ to stay neutral.
Analysts say the Sharif cabinet must look in firm control if its attempt to stabilise the economy are to succeed. The air of political uncertainty is already taking its toll on the markets. On Monday, the dollar continued its onslaught against the rupee, trading at the record high of PKR 201 in midday trading.
PM Sharif’s government has appeared wobbly from the moment he took over on April 11, with some of his cabinet colleagues publicly oscillating or dithering over whether the elections should be called immediately.
The man in the hot seat himself, however, has looked like an embodiment of “keep calm and carry on”, never an idle moment in his life. The other day, he visited PKLI (Punjab Kidney & Liver Institute) on a Sunday, announcing the return of Dr Saeed Akhtar to chair its board of governors.
Dr Akhtar was hounded from the position by Saqib Nisar, the then Chief Justice of Pakistan. By bringing him back and discussing next year’s agenda in a presser along with him, Sharif has sent out a clear signal he is not going anywhere anytime soon.
Meanwhile, in a clear sign that the government has no intention of yielding to the challenge posed by Khan the administration Monday decided to seal off Islamabad’s Red Zone, housing almost all the diplomatic missions in the federal capital, the Independent Pakistan can report.
The measure is aimed at preventing the demonstrators led by Khan from creating a law and order situation.
“All roads leading to Red Zone will be blockaded tonight, except Margalla Road,” said a source privy to the administration’s strategy to deal with the protest. He said shipping containers would be used to barricade all the Red Zone entry and exit points.
D-Chowk has already been closed to the public through similar barricades.
While announcing his program for protest on Sunday, PTI Chairman Imran Khan asked party workers and other members of the society to reach the capital city for achieving ‘real freedom’ for the country. The PTI chief also warned against creating hurdles for the protesters.
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