Pakistan's political, economic turmoil so dire…: Ex-PM Abbasi warns of military takeover

Former Prime Minister Shahid Khaqan Abbasi issued a warning that Pakistan's current economic and political crises is sufficient to prompt a military coup. According to The Dawn, he claimed that the army had interfered in the past under considerably less dire conditions and asked the major players to start talking.

Shahid Khaqan Abbasi, a prominent member of the ruling Pakistan Muslim League-Nawaz (PML-N) party, 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."

Due to a serious economic crisis, Pakistan is dealing with a large level of external debt, a declining currency, and rising prices. Pakistan's central bank announced last week that the country's foreign exchange reserves had fallen to USD 4 billion.

Pakistan is attempting to obtain a much-needed bailout from the International Monetary Fund through negotiations with the IMF. The nation will not go bankrupt thanks to the USD 1.1 billion bailout package.

According to analysts, the funds are a crucial component of a USD 6.5 billion bailout package that the IMF authorised in 2019 if Pakistan is to avoid defaulting on its responsibilities under external debt.

Additionally, since the Pakistan Muslim League-Nawaz (PML-N)-led government has been pushing for the Supreme Court (Practise and Procedure) Bill 2023 to limit the authority of Chief Justice of Pakistan Umar Ata Bandial to take suo motu action and form a panel of judges for hearing cases, relations between the judiciary and the ruling coalition have deteriorated.

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