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Tuesday, 07 February 2023
Pakistan’s New Sharif Government Tiptoes into Economic Minefield – What to Expect When He Becomes Prime Minister

Pakistan’s New Sharif Government Tiptoes into Economic Minefield – What to Expect When He Becomes Prime Minister

2022-10-31

On the evening of Aug. 25, 2018, the world was watching as Shiekh Muhammad Nawaz Sharif and his daughter, Maryam, signed papers to form a new government in Pakistan. The pair, who had ruled the country for about a decade, had been ousted in a military coup in 2016. The new government, led by the Sharif family’s political ally, Muhammad Nawaz, announced plans to introduce a host of new policies that officials said would help the country thrive. Nawaz, who had been the prime minister of Pakistan between 2013 and 2017, was the first political figure in Pakistan’s history to be impeached and removed from office.

But while the changes in government may be superficial, a new era of corruption and mismanagement has already begun.

This article explains what to expect as the new government takes the reins of power. What will be the price of steel? How will the cost of imports affect the Pakistani economy? How will the new government handle the country’s disastrous economy? Let’s take a look at the new prime minister and what his new government has to offer an economic hungry nation.

What will be the pledge of the new prime minister?
All the excitement surrounding the new government’s formation has largely focused on its promises related to the economy. But it’s important to note that all of the government’s policies are aimed at improving the country’s well-being.

One of the first steps toward this goal will be to cleanse the Pakistan’s national assembly, which is considered one of the very worst in the world. This process should be completed by the end of 2018.

Afterward, the new prime minister will have an opportunity to outline his priorities for the country. It’s important for the new government to list its priorities from the beginning, as the new government will be in power for little over a month.

What to expect from the new prime minister
The most obvious change that will take place once the new government assumes office will be the appointment of a new prime minister. However, the new prime minister will not instantly assume the position, as the new government will instead have to wait for the recent elections to take place. The elections, which were held to choose members of the new assembly, were marred by widespread fraud.

As a result, the country’s new leaders only narrowly won the majority of seats in the new assembly. Once the elections are over, the new prime minister will have to select his or her cabinet from the majority party members.

As the new prime minister, your first task will be to cleanse the national assembly of its corrupt members. This may seem like a simple task, but there are tens of thousands of members in the legislature and the number of seats in the chamber is decided by proportional representation, which is very difficult in Pakistan.

You must also ensure that the country’s new leaders do not make the same mistakes that the country’s previous leaders made. After all, the new government will be in charge of a nation that has seen some of the most corrupt administrations in its history.

How the new government will tackle the Pakistan’s bad economy
One of the most important aspects of any government is its economic policy. And as the head of the new government, you will be in charge of developing the country’s economic policies.

A bad economy is always a source of concern for a government. In a healthy economy, the government regulates the money supply so as to prevent inflation and maintain a stable purchasing power. But in a heavily corrupt economy, where the government can’t be trusted to maintain the value of the money because of cronyism and kickbacks, the only way to protect the average person is to raise taxes.

With a massive new tax burden on the average citizen, you will have more resources to fund your promised social programs. Additionally, you will have the political will to implement tax increases, as there will be public pressure to do so.

How the ruling family’s business ties will negatively impact the Pakistani economy
It is no secret that the Sharif family is heavily involved in the oil and gas industry. However, the business ties that these families have built over decades have prevented Pakistan from moving forward as an independent economic power.

The business ties have also prevented the Pakistani government from enacting comprehensive economic reforms that would benefit all segments of the Pakistani society. Instead of focusing on those positive aspects of the Sharifs’ business empire, however, many people have focused on the negative.

The negative largely stems from the fact that the Sharif family owns stakes in a number of state-owned companies, including the Pakistan Telecommunication Company (PTCL) and National Oil and Gas Authority of Pakistan (NOGAP).

These companies control large swaths of the Pakistani economy and have stymied progress on reform for years. The new government must do everything in its power to break these business ties.

What to expect from the new government’s foreign policy
The new government will have an opportunity to shape its foreign policy during its first week in office. It is expected to make an announcement on Pakistan’s foreign policy during a visit to India in early September.

Your first foreign policy decision as the new prime minister will be to choose a name for your country. Your second choice will be to announce your country’s first official diplomatic mission.

Both of these decisions are largely symbolic, as Pakistan does not currently have a recognized name for its country. However, they are important steps in establishing a national identity and establishing a diplomatic presence.

Your third foreign policy decision will be to draft a constitution for your country. This decision is important, as it determines the nature and structure of your government.

Summing up: What to Expect From Nawaz Sharif and his Government
On the surface, the new government in Pakistan does not appear to be any different from the previous one. In fact, the only real difference is that the country is now led by the Sharif family.

Before the new government takes office, it will have to cleanse the parliament, select a prime minister, and form a cabinet. These are relatively simple tasks, and they will be handled expeditiously.

Beyond that, the new government will have wide ranging and significant responsibilities. It will have to build a relationship with the rest of the world based on respect and Integrity, reform Pakistan’s notoriously corrupt civil service, create a budget that will allow the country to grow, and maintain a level of economic growth that will allow the country to transition to a market economy.

These are challenging and important tasks, but they are made slightly more challenging by the fact that you are now a sitting prime minister.

 

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