The political temperatures continue to rise since the JIT report on fake accounts and money laundering made public. Both PTI and PPP have been engaged in a war of words. Accusations and counter accusations are being made on daily basis against each other. The already struggling economy will suffer the most in this political battle.
In countries like Pakistan, the political instability always hit the economy hard. The stock market continues to bleed and failed to recover so far. The political instability makes it harder and difficult to bring foreign investment. Even local investors stop investing in the new projects or on the expansion of their businesses.
Economic growth and political stability are deeply interconnected. On the one hand, the uncertainty associated with an unstable political environment may reduce investment and the pace of economic development. On the other hand, poor economic performance may lead to government collapse and political unrest.
The political parties of any country are supposed to remain dedicated on working for the social and economic development of their countries. This how they should be attempting to please the general people and earn their support. Their steps and political activities are expected to be for the betterment of condition of the country and the people, but things like this do not always happen in the desired way. When the political parties of a country take very hostile positions towards each other, then political instability grows in the country. And it hampers the desired economic development of the country.
Unfortunately, it seems that political parties are going towards political confrontation and hostility. The PTI government is walking on a tight rope as it has a majority of just six members in the national assembly. PTI and allies are in the minority in Senate. The increased hostility and confrontation will make it harder for government to make laws or amend the existing laws through the parliament.
The parliamentary strength of different political parties demands close cooperation between different political forces to undertake the reforms and policy changes. The governments always tried to keep political calm and stability in the country to focus on the economic development. But PTI government is playing its role to increase instability and confrontation in the country.
It is better for PTI government to leave the accountability to the state institutions and rather focus on reforms and to strengthen the economy. The confrontation and political instability never helps a government. It helps the opposition to create more pressure on the government.
If PTI failed to fix the economy and overcome the problems faced by the common people in the short term, then it will face popular discontent and anger. This situation will help the opposition forces to gain public support and mobilise its forces against government. For the government, economic growth and development is key to satisfy the people. This cannot be achieved without political stability.
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24 August, 2019