Pakistan’s polarized elections, which followed nearly two years of unrelenting political turmoil and an ongoing economic crisis, added to the uncertainty.Everyone knows that the rigged outcome of these elections would have serious consequences for the future of Pakistan, its citizens, democracy and civil-military relations. it would also have an impact on the fragile economy of the country.
The elections took place with a delay of several months against the background of mixed political and economic uncertainty and a tense security situation. Therefore, it was hoped that the large-scale exercise would bring some stability to the country. Far from it.
Angry PTI supporters came in an atmosphere of fear and coercion to vote and announce their protest, despite their party leader being in jail and candidates being denied common election certificates.The PTI leadership claims that the election results were manipulated in such a way that the party gave up its two-thirds majority in Parliament. However, independent winners linked to Imran Khan emerged as the largest group in the lower house of parliament.
No party, including Nawaz Sharif’s PML-N, which was backed and supported at every stage by the kingdoms, won a simple majority.The unclear, fragmented mandate weighed on markets as the nation’s dollar bonds fell, with the one due in 2051 the biggest drop in seven months, according to Bloomberg. The benchmark KSE-100 fell 3.68 percent or more than 2,300 points on Friday, which is the biggest in two months.
The official counting of votes was still in progress, and results were expected from 15 districts on Saturday afternoon. However, Nawaz Sharif, whose party won only 72 seats in the 266-member house at the time of writing, claimed victory in a speech on Friday evening and declared the PML-N the largest political party. the National Assembly and the Punjab Assembly.
In his victory speech, which sounded more like a concession speech, the three-time prime minister invited all parties to the government and asked his party leaders to contact other parties.
His brother Shehbaz Sharif has since met PPP leaders Asif Zardari and Bilawal Bhutto and politicians from other parties to discuss the details and mechanisms of the upcoming PDM-like arrangement in Islamabad. PPP returned 53 MPs to the National Assembly.
The powerful security establishment is expected to want both the PML-N and PPP as well as other smaller parties like MQM and JUI to join the coalition government. Many are worried about the coalition’s ability to manage the economy and implement tough reforms.