Senate election outcome to trigger political, economic uncertainty: Shahid


Former President ICCI Shahid Rasheed Butt on Saturday said the aftermath of the Senate elections would trigger political and economic uncertainty as the opposition has rejected the results.

Now opposition will explore all the possibilities including litigation in superior courts, protests, long march and no-confidence motions, he said.

Shahid Rasheed said that the increased political temperature will keep the government busy in firefighting depriving it of perusing the reform agenda, therefore, masses may not get any relief.

He said that the government and opposition are blaming each other for spy cameras hidden in the voting booth that has tainted the whole election process and attracted global attention.

Now PDM will try to target CM Punjab, Speaker and Deputy Speaker Punjab and Balochistan government that will not allow the government to take a sigh of relief even if these initiatives remained unsuccessful.

The business leader noted that getting Abdul Hafeez Shaikh elected as Senator or MNA will also be a challenge for the government as it lacks alternative and it cannot appoint anyone else when critical negotiations with IMF are underway.

He said that Abdul Hafeez Shaikh will not be able to take the critical decisions or head Economic Coordination Council, one of the most important decision-making bodies of the cabinet; and he will be unable to chair the meetings of the National Finance Commission unless he is elected.

Shahid Rasheed said that government is also facing serious problems like rupee appreciation, new corporate taxes, power and gas subsidies, cotton prices, oil hike, fall in exports, food and fuel prices and eroding income of people.—INP