PUNJAB:
The political turmoil that began with the ouster of former Prime Minister Imran Khan is far from ending. Rather, it is worsening with each passing day. Political uncertainty coupled with the global financial crisis following Moscow’s invasion of Ukraine has put the economy at home under a significant strain, given the fact that neither IMF nor any friendly country came forward to rescue us.
The fast-depleting foreign exchange reserves and the unsettling political environment has depreciated the value of the rupee to an all-time historic record low. Moreover, back-breaking inflation has hit the poor working class the most, making their modest living unaffordable. Many estimates suggest that thousands of people will be pushed below the poverty line in the next few weeks unless political stability returns and uncontrolled inflation is arrested soon.
However, the heightened political temperature doesn’t seem to be subsiding, given the grave political chaos that occurred for Punjab’s Chief Minister spot. While the PTI deserves the provincial government given its numerical strength, the PDM coalition finds little significance in governing at the center without having Punjab in its hands. That’s why political actors on both sides of the aisle, vying to gain strong footholds in the province, do not seem to be moving past their ego and power games at any cost.
Challenging times demand that leaders sacrifice their personal interests in favor of the larger public interests. Tough times call for political leaders to move above their short-term political gains and forge a consensus to revive the faltering economy. Therefore, national interest must assume precedence over anything else before the country defaults economically and descends into chaos just like Sri Lanka.
Published in The Express Tribune, July 25th, 2022.
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