Sat. Mar 2nd, 2024
Pakistan’s new government confronts two daunting challenges with inflation surpassing 30 percent

The recent parliamentary elections in Pakistan were marked by violence and uncertainty, with terrorist attacks resulting in over 40 deaths and two candidates being shot. Election observers noted that the high level of uncertainty surrounding the election results was exceptional, with slow vote counting attributed to poor internet connections and information hoarding by authorities. Despite these challenges, both the Pakistan Muslim League and PTI party claimed victory in the elections.

The incoming government in Pakistan faces significant challenges, including political instability, economic instability, and a population heavily impacted by poverty and inflation. Pakistan’s foreign exchange reserves have dwindled, causing its currency to lose over 50% of its value. The government must negotiate with the IMF for a new payment program while taking steps to reduce expenses and address climate change-related disasters.

Pakistan’s geopolitical situation as a neighbor to India, Afghanistan, Iran, and China further complicates its situation. China has invested in infrastructure projects in Pakistan, but neighboring countries are also unstable and present security and political challenges. India benefits from Pakistan’s instability while Afghanistan and Iran pose unpredictable threats. Additionally, Pakistan is vulnerable to climate change-related disasters.

The recent elections saw about 128 million people cast their votes, with an estimated half of the voters being under 35 years old. The voter turnout was around 50%, with representatives for the 266-seat parliament chosen amidst the challenges facing the country. However, despite this achievement

By Editor

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