Pakistan: PML-N nominates Shehbaz Sharif as next PM
Metodi Tzanov
Helping finance professionals understand what is going on in Emerging and Frontier Markets
PML-N president Shehbaz Sharif is set to become Pakistan's prime minister (PM) for the second time after his elder brother and party's supremo Nawaz Sharif nominated him for the post, PML-N spokesperson Maryum Aurangzeb announced on late Tuesday. Moreover, it was revealed that Nawaz's daughter, Maryam Nawaz, will be the candidate for the slot of chief minister of Punjab, another coveted slot considering Punjab is Pakistan's most populous and thereby politically important province. The announcements came minutes after PPP, MQM and other smaller parties agreed to form a coalition government with PML-N.
Many analysts were surprised by PML-N's decision to nominate Shehbaz for premiership given that the party had been touting Nawaz as the frontrunner for the post. Several PML-N leaders later told different TV channels that Shehbaz's name was selected due to his experience of successfully heading a coalition government for 16 months till August 2023.
Meanwhile, PPP co-chairman Asif Ali Zardari, along with leaders of several other political parties, announced to form a coalition government with PML-N, noting it was the need of the hour to take Pakistan out of difficult times. Zardari's statement contradicted that of his son Bilawal Bhutto Zardari, who hours earlier?said?that the PPP will not join the next government but would support the PML-N in the election of the PM and other important legislations as not doing so could create political chaos in the country.
The two contradictory statements created confusion regarding the PPP's role in the next government. Later, a senior PPP leader in an interview with a TV channel clarified that Bilawal's statement is indeed the PPP's stance, adding what Zardari meant was that the party will only help PML-N in the formation of the next government.
Overall, a weak coalition government is going to be formed in Pakistan. The PPP has said that it would refrain from voting for any bill in the next parliament that has an adverse impact on the public, which means that the new government will face challenges in securing consensus to pursue difficult, but necessary economic reforms, something that could derail the country's negotiations with the IMF for a new long-term loan program.