ISLAMABAD — In the midst of one of Pakistan’s most challenging economic crises, former Senator Anwaar-ul-Haq Kakar has been sworn in as the country’s prime minister. Kakar, a relatively new figure in politics but with close ties to the powerful military, will oversee a caretaker government responsible for conducting parliamentary elections. The appointment of a caretaker government is a customary practice in Pakistan during the election period when power transitions take place.
The swearing-in ceremony, held inside the prestigious Presidency, saw President Arif Alvi administer the oath of office to Kakar. The former head of the Baluchistan Awami Party, Kakar resigned as a senator following his nomination by outgoing Prime Minister Shehbaz Sharif and opposition leader Raza Riaz to oversee the electoral process and manage day-to-day affairs until a new government is elected. According to the constitution, the elections will take place within the next 90 days.
As Pakistan celebrated its 77th Independence Day, the nation found itself engulfed in deep political turmoil, which began with the removal of former Prime Minister Imran Khan last year. The celebratory events commenced with gun salutes in the capital city of Islamabad and the four provincial capitals. President Arif Alvi, surrounded by officials and dignitaries, raised the national flag in a ceremony that marked the country’s independence.
Security remained heightened across the nation due to several recent attacks, including an incident in Baluchistan province where Chinese workers escaped unharmed from an attempted assault on a construction site. The attackers were swiftly neutralized by the security forces. In another unfortunate incident, a journalist named Jan Mohammad Mahar was shot and killed by unidentified gunmen while returning home in Sukkur, a district within southern Sindh province. The motive behind this incident is still under investigation.
In his farewell address to the nation, former Prime Minister Shehbaz Sharif urged the public to exercise their right to vote wisely. Holding Khan responsible for the economic crisis that unfolded during his tenure, Sharif emphasized the importance of making informed choices when casting their ballots. Sharif himself assumed the role of prime minister in April 2022 after Khan was ousted through a no-confidence vote in parliament.
Khan, who was recently convicted and sentenced to three years in prison for corruption, is currently held at the high-security Attock prison in eastern Punjab province. Although unable to participate in the upcoming elections due to his criminal conviction, Khan and his opposition Pakistan Tehreek-e-Insaf party remain significant contenders, expected to pose a formidable challenge to Sharif’s ruling Pakistan Muslim League.
Khan has already lodged an appeal against his conviction, aiming to have it overturned. Nevertheless, until that occurs, his political activities and eligibility to hold public office or lead a party will remain restricted. As the electoral process unfolds in the coming months, Pakistan finds itself at a critical juncture, eagerly awaiting a new government that can address pressing economic challenges and steer the nation towards stability and progress.
Market Capital Research 