The current economic and political crisis is enough to attract a military takeover in Pakistan, former Prime Minister Shahid Khaqan Abbasi said in a warning. He said the army intervened in the past in much less severe circumstances and urged the top stakeholders to initiate a dialogue, The Dawn reported.
A senior leader of the ruling Pakistan Muslim League-Nawaz (PML-N) party, Shahid Khaqan Abbasi said, “Martial law always remained a possibility if the system failed or when there was a conflict between institutions and the political leadership was unable to chart a way forward.”
Pakistan is hit by a severe economic crisis and is grappling with high external debt, a weakening currency and soaring inflation. Pakistan’s foreign exchange reserves have plummeted to USD 4 billion, the country’s central bank said last week.
Pakistan is in talks with the International Monetary Fund (IMF) for a much-needed bailout but is still struggling for the same. The USD 1.1 billion bailout package is aimed at preventing the country from going bankrupt.
The funds are part of a USD 6.5 billion bailout package the IMF approved in 2019, which analysts say is critical if Pakistan is to avoid defaulting on external debt obligations.
Moreover, relations between the judiciary and the ruling coalition have soured ever since the ruling Pakistan Muslim League-Nawaz (PML-N)-led government has been pushing for the Supreme Court (Practice and Procedure) Bill 2023 to dilute the powers of Chief Justice of Pakistan Umar Ata Bandial to take suo motu action and form a panel of judges for hearing of cases.