Islamabad: The Pakistan Economy Watch (PEW) on Wednesday said Supreme Court’s decision to uphold disqualification of Sharif brothers will unleash a new era of political confrontation in Pakistan which may inflict great harm to already limping economy. A big crisis is in the making as the political system of the country has been jolted. The development will inject new blood in the movement of lawyers and civil society for restoration of former chief justice adding to uncertainty.
Economy, which is already suffering because of uncertainty and militancy, has received another critical blow, said Dr. Murtaza Mughal, President of the PEW. Pakistan’s economy may not be able to absorb this shock. The development will hit pro poor schemes and developmental projects in Punjab, discourage investments and may trigger flight of capital. Efforts to restore confidence of investors have been shattered.
A stage has been set for a renewed political conflict in the country’s most populous province which is likely to deepen growing rift between Nawaz Sharif and President Asif Ali Zardari, he said.
The decision has not only hurt PML-Nawaz but also the ruling coalition. “It is bound to hurt the government as a new round of horse trading, postings, transfers, victimization and protests is in the making,” said Dr. Mughal.
Punjab is different form NWP and Balochistan. Unrest in the biggest province will be felt across country. Today’s development has left a big question mark on the credibility of some institutions.“The middle class will continue to shrink on a great pace due to slide in economy and claims to bridge gap between rich and poor could not be materialized,” he said. It is widely believed that politicians have not learned a lesson despite eight years of military rule. Pakistan badly needs mature politicians, said Dr. Mughal.-PAK Eco Watch