The Pakistan Tehreek-e-Insaf (PTI)’s call for a nationwide shutdown to protest what it has termed as the ‘illegal’ arrest of its chairman Imran Khan may prove to be the straw that Pakistan already has. Breaks the camel’s back for a stagnant economy. Not politically motivated, analysts said on Tuesday.
The South Asian nation of 220 million people is running out of dollars, inflation is running at more than 36 percent and an expected bailout from the International Monetary Fund (IMF) has been delayed by months.
The National Accountability Bureau (NAB) arrested the former prime minister from the Islamabad High Court. Footage of the arrest shows dozens of paramilitaries in riot gear surrounding Khan and leading him by the arm into a black pickup truck.
Khan’s arrest came a day after the army’s media wing issued an unusual public rebuke of the former prime minister, repeatedly accusing a senior army officer of attempting to assassinate him and the former army chief. were behind the move to remove him from power.
After the arrest, tensions were high in major cities.
Economic slowdown
Industrial activity has virtually ground to a halt as the central bank has raised interest rates to a record 21 percent to fight inflation, further exacerbating unemployment and poverty.
Women and children have died in stampedes at food distribution centers as food inflation has hit a record high of 40 percent.
Stalled bailout
The IMF’s bailout program, which expires in June, has been stalled since November. Foreign exchange reserves of $4.457 billion barely cover one month’s imports.
Debt relief from friendly countries such as China, Saudi Arabia and the United Arab Emirates has yet to materialize in full.
Revenue shortfall
According to most estimates, the revenue shortfall for the fiscal year will be substantially higher, while the rupee is weak.
Elections
Pakistan is in a constitutional impasse after Prime Minister Shehbaz Sharif’s government in April rejected a Supreme Court order to hold local elections in Punjab province by mid-May. Non-compliance may result in legal action against the government. The court has already sacked two prime ministers.
Political pressures
Khan, who was arrested for alleged corruption and ousted as prime minister last year, has been mounting pressure on the government through a sustained political campaign as he seeks to return to power.
Authorities have made several attempts to arrest Khan since March, leading to clashes between his supporters and law enforcement officials.
Rising militancy
The government says it plans a nationwide operation to root out militants in the wake of recent attacks. The last such operation, in 2014, cost the country billions of dollars, killed hundreds and displaced nearly a million people.
Hundreds of supporters blocked roads in Khan’s hometown of Lahore, where police have been put on high alert, as well as in the northwestern province of Khyber Pakhtunkhwa. Protesters also blocked a major road in the port city of Karachi.
Shut down Pakistan
Khan will be produced in an anti-corruption court on Wednesday. In response, the PTI called on supporters to “shut down Pakistan”.
“It’s your time, people of Pakistan, Khan has always stood up for you, now is the time to stand up for him,” PTI wrote on Twitter.
Cricket hero-turned-politician Khan, 70, has shown no sign of slowing down since being ousted as prime minister in April last year, even after being injured in an attack on his convoy in November. He was leading a protest march to Islamabad. Demand for early general elections
Land fraud
Interior Minister Rana Sanaullah told reporters that Khan was arrested by the NAB for not appearing “despite a notice”.
He said the allegations against Khan were that he and his wife had acquired land worth up to seven billion rupees ($24.70 million) from a land developer, which British authorities accused of money laundering.
He added that British authorities had returned 190 million pounds ($240 million) to Pakistan in connection with money laundering, which Khan returned to the land developer instead of keeping it in the national treasury.
Khan had denied wrongdoing.
According to an order seen by JEE News, the NAB issued an arrest warrant for Khan on May 1. “Khan is accused of corruption and corruption offences,” it said.
The corruption case is one of more than 100 cases filed against Khan since he was ousted in a parliamentary vote. He served four of his five-year terms.
In most cases, Khan faces being barred from holding public office if convicted, with national elections due in November.
Political infighting is common in Pakistan, where no prime minister has ever served a full term and where the military has ruled for nearly half of the country’s history.
