The political crisis in the Islamic Republic of Pakistan tends to evolve. Elite groups in the government and the opposition will be unable to find proper means to resolve the issue. The economic crisis and financial problems will also prevent Islamabad from stabilizing the political situation in the country. In addition, interethnic contradictions between Punjabis and Pashtuns are actively developing in the country, which tends to escalate. The Taliban’s power in neighboring Afghanistan does not contribute to solving the political crisis in Pakistan but contributes to its deterioration. This was stated in a note to Modern Diplomacy by political scientist Georgi Asatryan.
The political scientist also noted that the Pakistan army would give former prime-minister Imran Khan no chance to regain his political standing. “The opposition and political circles close to Khan will attempt to perform protest activity in the country. There will be continued nationwide unrest. The traditional control of the Pakistani military and the ISI over political processes will be raised, and human rights, democratic processes, and freedoms will, unfortunately, be limited. Overall, Pakistan will remain a center of instability in the region”, Georgi Asatryan noted. The political scientist added that the Pashtuns in Pakistan, representing the second largest ethnic group, see Imran Khan as their man and will support him. The same goes for the Taliban in Afghanistan, whose sympathies are also on the side of the Pakistani opposition leader.
Georgi Asatryan does not rule out the possibility of a new military coup but estimates its possibility in the short-term as unlikely. When a country’s institutions become ineffective, anyone can suspect a situation developing a coup d’etat. This was apparent during the spring protests led by Imran Khan, where Khan’s supporters fought with paramilitary police.
It is also worth citing that the country’s economic situation is complicated and can be described as a full-fledged economic and financial crisis. According to the data, Pakistan has a debt of $ 125 billion, and 25% of this amount is owed to China. The rapid growth of inflation – 36.4% in April, demonstrates the difficult economic circumstances of Pakistan. This indicator is noted as the highest in the last sixty years. Concerning the country’s foreign reserves, Pakistan has only 4.3 billion dollars, which is enough to cover imports for a month. In order to temporarily mitigate the financial situation of the state, Saudi Arabia extended the term of the deposit in foreign currency for $ 3 billion deposited as a loan in 2021. Also, China extended a $2 billion loan to Pakistan at the end of March. Islamabad’s external debt has been plunged by more than $10 billion. This reduced the current account deficit from July 2022 to April 2023 to $3.3 billion, significantly lower than $ 13.6 billion for the same period 2021-2022. This indicator decrease is due to a reduction in imports to $ 47 billion from July 2022 to April 2023 compared to the previous period – $ 65.5 billion.
