Former Pakistani Prime Ministers Nawaz Sharif and Imran Khan plunged the nation into further political turmoil on Friday by both claiming victory in elections marred by delayed results and militant attacks. Despite Sharif’s party winning the most seats by a single party in Thursday’s election, Khan’s supporters, running as independents after his party’s disqualification, secured the most seats overall.
Sharif’s Pakistan Muslim League-Nawaz (PML-N), acknowledging the absence of a clear majority, announced plans to form a coalition government, reaching out to other groups for support. The elections were marred by violence, with 28 people killed in militant attacks, and the announcement of results significantly delayed.
The results revealed that independents, largely backed by Khan, won the most seats overall, totaling 98 out of the 245 counted by 1830 GMT. Sharif’s PML-N secured 69 seats, while the Pakistan People’s Party (PPP) of Bilawal Bhutto Zardari obtained 51. The remaining seats were distributed among small parties and other independents.
In response to Sharif’s claim, Khan released an audio-visual message disputing the victory declaration and congratulating his supporters. Khan, currently in jail, urged his followers to celebrate their electoral success and protect their vote, alleging rigging in the polls.
Former cricket superstar Khan has been incarcerated since August, facing multiple convictions in the lead-up to the elections. Similarly, Sharif, a three-time former premier, returned from exile last year after contesting the previous election from a jail cell. Despite their political rivalry, Sharif’s reconciliation with the military positioned him as a front-runner in the elections.
The delayed announcement of results and the prospect of a coalition government pose significant challenges for Pakistan, particularly in addressing its economic crisis and rising militancy. Moody’s Investors Service emphasized the need for a smooth transition to mitigate policy and political uncertainty, crucial for a nation grappling with daunting macroeconomic conditions.
The uncertainty surrounding the election results has already impacted financial markets, with Karachi’s stock index and Pakistan’s sovereign bonds experiencing declines. Analysts anticipate difficulties for a coalition government in navigating Pakistan’s complex political landscape and tackling pressing issues, including securing a new bailout program from the International Monetary Fund.
Despite the challenges ahead, the election outcome could mark a significant shift in Pakistan’s political dynamics, with implications for stability and governance. As the nation awaits further developments, the resolution of its crises remains uncertain, raising concerns about the potential for deeper instability in the days to come.
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