THROUGHOUT history, Pakistan has grappled with a series of challenges, each posing a unique challenge which has shaped its growth trajectory and tested its resilience. However, the ongoing political crisis is proving to be detrimental to the nation with its far-reaching consequences staggering economic progress, deteriorating security situation, eroding public trust in state institutions and intensifying political polarization that reaches deep into the core of Pakistan.
The economic meltdown, resulting from the political turmoil has immensely impacted the lives of people across Pakistan. Despite multiple efforts, the coalition government is unable to secure a crucial deal with IMF, exacerbating the already dire economic situation of the state. The devasting impact of economic downfall has resulted in sluggish economic development, shortage of foreign currency, soaring inflation and scarcity of essential food items. The shortfall of essential food items has led to a sharp price increase where inflation soared to 36.4% in April-2023 alone.
International financial institutions have cautioned that the economic crisis could undo the poverty reduction achieved in the last two decades. The concerns regarding Pakistan’s ability to meet its debt obligations are all-time high, adding to the gravity of the situation. The recent tragic Greece boat incident serves as a bitter reality check that people are willing to take desperate measures in the face of political and economic uncertainty, in the hope of stability and a bright future.
This politico-economic instability has provided perfect conditions to terrorist organizations for the growth, strengthening and reorganization of their networks. As the government and people are focused primarily on the political turmoil and economic uncertainty, these groups are restructuring themselves to expand their operational networks.
The formations and announcements of new factions of banned Tehreek-i-Taliban Pakistan (TTP) in the south and north Punjab indicate a worrisome development in their operational and organizational capabilities. This calculated move to target the already vulnerable and volatile regions of Pakistan poses challenges to security and national unity, adding further to the complexity of the situation. The interplay between politico-economic instability and the expansion of terrorist networks is alarming for Pakistan’s security and stability, demanding urgent attention to address underlying issues.
Another significant impact of the ongoing political crisis is the degradation of the rule of law. The crisis has escalated to the point where various state institutions are clashing with one another, deepening the turmoil. Controversies surrounding the leading institutions – the Judiciary, the Election Commission of Pakistan and the Establishment have led to accusations of manipulation of legal process, political bias, unnecessary political interference and selective approach in application of laws has undermined the public trust in state institutions.
The political crisis has multidimensional impacts on the State of Pakistan, therefore, a grand national dialogue is necessary to steer Pakistan towards stability and progress. The only way forward is to engage in a constructive dialogue and build consensus among political leaders to address governance issues, institutional reforms, electoral process and socio-economic development. The former President of Pakistan, Asif Ali Zardari, has rightly suggested engaging in a constructive dialogue with all political stakeholders and signing a “Charter of Economy” as a potential solution for the ongoing challenges plaguing the country.
The collective effort of all political forces in setting aside their personal and political interests to work for the prosperity and stability of Pakistan is a challenging task, yet not impossible. The “Charter of Democracy” signed in 2006 by rival political parties is a promising endeavour for strengthening democracy in Pakistan. By building upon this foundation, only political leaders can foster a conducive environment for collaboration, reconciliation, compromise, long-term progress, prosperity and stability in Pakistan.
—The writer is Assistant Director, NUST Institute of Policy Studies (NIPS)
