By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Former Pakistan leader Nawaz Sharif returns from exile in bid to regain power
News

Former Pakistan leader Nawaz Sharif returns from exile in bid to regain power

News Room
Last updated: 2023/10/21 at 2:21 PM
By News Room
Share
4 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Pakistan’s former prime minister Nawaz Sharif has returned from exile in a bid to regain power by uniting the opposition to his jailed rival Imran Khan ahead of elections which are expected early next year.

The three-time leader was greeted by several thousand supporters at a gathering of his Pakistan Muslim League-Nawaz party in central Lahore, but analysts said his bid for power faced major challenges, notably the fallout from a fragile economy.

Sharif was found guilty of corruption in 2018, sentenced to 10 years in prison and disqualified from holding public office. The following year he was granted bail to travel to London for medical treatment and did not return.

In an impassioned speech on Saturday, the 73-year-old said that if he had not been removed from power, “not a single person would have been unemployed, there would be nothing like poverty. But today, conditions are so bad that one has to think if they can feed their children or pay electricity bills”.

After his ousting Imran Khan took over as prime minister. He in turn was ousted in a vote of no confidence last year by a coalition government led by Sharif’s younger brother Shehbaz.

Shehbaz Sharif ran the country until August this year. It is now being run by caretaker prime minister Anwar ul-Haq Kakar, a little-known figure from the volatile western Balochistan province, until the elections take place.

During Shehbaz Sharif’s term the economy was hit hard, with annual inflation running at over 30 per cent and a steep devaluation of the rupee.

“Their performance on the economy will present Nawaz Sharif’s party with their biggest challenge,” said one Pakistani businessman who did not want to be named.

Sharif has filed appeals against the convictions which bar him from office.

Pakistan has been ruled by the army for almost half of its 75 years of existence, since it gained independence from the British Raj. Analysts warned that it faced a period of turbulence if the outcome of the elections were to be disputed.

Moonis Ahmar, a retired political scientist formerly at the University of Karachi, said Sharif’s return appeared to have been “facilitated”. This could “pose a challenge” to him in the run-up to the elections, he added: “If the popular view is that there is no level playing field, people will reject the results.”

Khan’s Pakistan Tehreek e Insaf party has been severely weakened since his loyalists stormed government installations including army premises after he was briefly arrested in May this year. Several other PTI leaders were also arrested and many subsequently withdrew their support for Khan.

In August Khan was sentenced to three years in jail over allegations that he had profited from the sale of gifts that he received while in office.

The PTI has decried the conviction as a politically motivated ploy to prevent Khan from leading the party in the next elections.

Read the full article here

News Room October 21, 2023 October 21, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
The power crunch threatening America’s AI ambitions

Many utility companies are pinning their short-term hopes on “demand response” solutions…

Elon Musk asks Tesla investors to approve $1T pay package, rising oil prices pressure bonds

Watch full video on YouTube

Why beef prices are out of control in the U.S.

Watch full video on YouTube

Yahoo Finance: Market Coverage, Stocks, & Business News

Watch full video on YouTube

How A Million Miles Of Undersea Cables Power The Internet — And Now AI

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

The power crunch threatening America’s AI ambitions

By News Room
News

REX American Resources Corporation 2026 Q3 – Results – Earnings Call Presentation (NYSE:REX) 2025-12-05

By News Room
News

Aurubis AG (AIAGY) Q4 2025 Earnings Call Transcript

By News Room
News

A bartenders’ guide to the best cocktails in Washington

By News Room
News

C3.ai, Inc. 2026 Q2 – Results – Earnings Call Presentation (NYSE:AI) 2025-12-03

By News Room
News

Stephen Witt wins FT and Schroders Business Book of the Year

By News Room
News

Verra Mobility Corporation (VRRM) Presents at UBS Global Technology and AI Conference 2025 Transcript

By News Room
News

Zara clothes reappear in Russia despite Inditex’s exit

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?