Pakistan: Army, Debt and PTI Crisis

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PTI crisis is going on in Pakistan after army and debt. This South Asian country can breathe a sigh of relief for now as the arrest warrant of the country’s former Prime Minister and PTI leader Imran Khan has been withdrawn. However, analyzing the recent events, it can be said that the problem is not leaving behind Pakistan.

Allegations against the army

Everyone knows that the country’s military interference in Pakistan’s politics has been criticized since its inception.

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Indian media NDTV reported last Friday, quoting Dawn, that Pakistan Army Chief Asim Munir supported PTI leader Imran’s arrest to ‘destroy his political career’.

It also said that Imran Khan blamed General Munir for his arrest and the attack on party supporters.

Earlier, Imran had accused the army of supporting his opponents when he lost the premiership.

However, Michael Kugelman, an expert at the Woodrow Wilson Center for Scholars in Washington, believes that the Pakistan Army has ‘distanced itself’ from the country’s current crisis.

Recently, he told the German media Deutsche Welle, “They (army) want Pakistan’s internal stability. In other words, political instability will exacerbate the country’s problems. In particular, it will increase the risk of terrorist attacks.’

The report mentions that Pakistan’s generals are worried about security issues due to Pakistan’s long borders with Iran, Afghanistan, China and India.

In this context, it can be said that Pakistan’s Finance Minister Ishaq Dar has announced that there will be no ‘compromise’ on his country’s nuclear and missile programs amid the ongoing deep economic crisis. From this it can be assumed that the army has a strong influence on the current government of Pakistan.

According to a Dawn report on March 16, Finance Minister Ishaq Dar said in response to Senator Raja Rabbani’s question, “I assure you, no one can compromise on Pakistan’s nuclear and missile programs – there is no chance.”

The senator also questioned whether the signing of the agreement is being delayed due to pressure on Pakistan’s nuclear programme.

In response, the finance minister said that no one has the right to talk about the range of Pakistan’s missiles and what kind of nuclear bombs will be there.

At a time when the people of Pakistan are suffering due to economic recession, the question can be raised whether the statement of politician Ishaq Dar is an expression of ‘sena toshan’ policy.

Economic crisis

According to Dawn’s report on Monday, last February the inflation rate in the country increased by 31.5 percent compared to the previous year.

In another report, the media questioned the IMF loan sought for the country and said, “Isn’t this a ‘silver bullet’?”

On March 14, India’s trade daily ‘Mint’ said, ‘IMF agreement in crisis, only China can save Pakistan.’

Quoting Dawn, the ‘Mint’ report also said – ‘Bank of America has said that the IMF and Pakistan are still in talks to resolve the economic crisis. In such a situation, close friend China can save the country.

According to the report, Pakistan implemented several directives including raising taxes, raising fuel prices and raising interest rates to the highest level in 25 years to get a $6.5 billion loan from the IMF.

Citing The News, Geo News reported on March 16 that a Chinese bank has guaranteed a loan of $500 million to $2 billion to Pakistan in the next few days.

On March 17, Daily Pakistan reported that all eyes are now on Saudi Arabia, United Arab Emirates and Qatar to save the country’s extremely critical economy.

Earlier, Dawn reported that besides China, mineral-rich Qatar has also assured assistance to Pakistan. Qatar Investment Authority seeks to leverage Islamabad’s investment-friendly policies. Needless to say, their implementation is quite time consuming.

Meanwhile, Finance Minister Ishaq indirectly blamed the former PTI government for the delay in the agreement with the IMF. He said that many people are mistaking the agreement with the IMF in 2019 as a ‘new program’.

According to the media The Diplomat, the agreement of the then government of Pakistan on borrowing from the IMF was made in 2019. The process of ‘loan program’ will continue till June this year.

Describing Pakistan’s relationship with the IMF as ‘sour-sweet’, the report also said this would be Pakistan’s 23rd IMF program in the last 75 years.

Regarding Pakistan’s economic crisis, the Michigan News Portal of the University of Michigan in the United States recently said that after the terrible floods in the middle of last year, the devastated economy of the South Asian country has become more fragile. Production in factories has decreased. Foreign exchange reserves are at rock bottom. Inflation is hitting a new record.

Pakistan government thinks they need 9 billion dollars to overcome the economic crisis. However, this news analysis casts doubt on whether this money can solve the country’s crisis.

It is said that this money may ease the country’s liquidity crisis and encourage private enterprises. More money needs to come from private sources.

On March 15, The Times of India reported, ‘The ongoing incident with Imran Khan will deepen the crisis in the country’s economy.’

PTI crisis

The Pakistan Tehreek-e-Insaf (PTI) is the main opposition party to the current coalition government led by the Muslim League (Nawaz). Ever since he lost power in a no-confidence vote in April last year, Imran Khan has been saying that there is a plan to ‘kill’ him. He even commented that ‘Pakistan is on the verge of disintegration’.

On Monday, Dawn reported, PTI chief Imran claimed that he was stationed at the judicial complex in Islamabad by ‘strangers’ to ‘kill’ him. So he did not get out of his car.

Last Saturday, Imran went to Islamabad from Lahore to attend the hearing of the corruption case known as the ‘Tosakhana case’ against him. At that time, the country’s politics heated up again when the police raided his house in Lahore.

Last week, police and paramilitary forces clashed with party leaders to arrest Imran in a corruption case, raising concerns among the international community.

Geo News today reported that Information Minister Maryam Aurangzeb called former Prime Minister Imran Khan a ‘terrorist’ and said his residence in Lahore was a ‘terrorist’s den’ and a ‘petrol bomb making laboratory’.

Mariam also said in a press conference yesterday that if the law, judiciary and police administration are ‘challenged’ then ‘civil war will start’ in the country.

With both the government and the opposition fearing widespread conflict and deep crisis, it is safe to assume that the country will remain in general turmoil at least until the next general elections.

Michael Fried

Hello there, I'm Michael Fried, and I'm a news author at TheTopDailyNews. I've been covering a wide range of topics for years, from politics and finance to technology and human interest stories.

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