(Photo credit – Imaran Khan)
Imran Khan, the former Prime Minister of Pakistan and leader of the Pakistan Tehreek-e-Insaf party, has been issued a non-bailable arrest warrant by an Islamabad court. Khan is facing charges of selling state gifts and hiding assets, and was absent from a hearing related to the case.
The arrest warrant comes amid a political crisis in the country, with Khan calling for early elections to remove current Prime Minister Shahbaz Sharif from power. Three other courts have ruled that Khan is immune from arrest on separate charges related to allegations of terrorism, attempted murder against a rival politician, and graft. Khan’s supporters have been protesting in Islamabad, with one of his supporters having been killed and a dozen others injured during a rally in November.
Meanwhile, the country is facing severe economic problems, with Moody’s Investors Service downgrading Pakistan’s rating due to the increasingly fragile liquidity and external position that raise default risks to a level consistent with a Caa3 rating.
Khan’s supporters call for early elections to oust Prime Minister Shahbaz Sharif
The political turmoil in Pakistan has been brewing for months, with Imran Khan and his supporters demanding early elections to replace the current government of Prime Minister Shahbaz Sharif. The situation escalated after Khan was shot in the leg during a protest rally in November, which led to nationwide condemnation.
Khan’s legal troubles have only added to the political crisis, with the latest non-bailable arrest warrant being issued against him for charges of selling state gifts and concealing assets. The former Prime Minister has denied any wrongdoing and has accused Sharif of conspiring with the U.S. to oust him from power, but has provided no evidence to support his claim.
Moody’s downgrades Pakistan’s rating amid severe economic problems
Meanwhile, Moody’s downgrade of Pakistan’s rating is a clear indication that the country’s economy is facing severe challenges. Pakistan is currently in talks with the International Monetary Fund to revive a bailout that was originally signed in 2019 when Khan was in power. However, Moody’s assessment has raised concerns that Pakistan is more likely to default on its foreign debts, which could further worsen the economic crisis.
The standoff between Khan and Sharif’s government has created a sense of uncertainty and instability, with thousands of supporters taking to the streets in protest. Fawad Chaudhry, a senior leader from Khan’s Pakistan Tehreek-e-Insaf party, has claimed that there is “a serious threat to the security of Imran Khan and thousands of people” as he moves around the capital.
The coming days will be crucial in determining the future course of Pakistan’s political and economic landscape. While the current government insists that elections will be held later this year when Parliament completes its five-year term, the opposition remains steadfast in its demand for early elections. The situation remains fluid, with both sides refusing to back down, and it remains to be seen how this political crisis will unfold in the coming weeks and months.
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