Pakistan’s National Assembly formally selected Nawaz Sharif as prime minister on Wednesday. The new prime minister comes at a time when the country is witnessing a massive power tussle and is in need of some disciplined economic reforms.
“We have no other option, except for democracy,” said Sharif. “We should strengthen the democracy for the better prospects of Pakistan, and we should close all doors to dictatorship.”
Talk of inflation has been swirling for some time amid all the stimulus that's been pouring into the market and the soaring debt levels in the U.S. The Federal Reserve has said that any inflation that does occur will be temporary, but one hedge fund macro trader says there are plenty of reasons not to Read More
Nawaz Sharif, 63, who is the leader of the Pakistan Muslim League-N, won a landslide majority, gaining 224 of the total 294 votes cast by the assembly members. The selection of Sharif as the prime minister is also historic in the sense; that the country’s grand Parliament House witnessed a rare unity among the members as several members of opposition parties also trusted Sharif for the coveted post.
Time To Fulfill The Promises Nawaz Sharif Made
At the time of the election campaigns, Sharif promised his party will make all efforts to convert Pakistan into a new, modern and developed country. The PML-N chief also raised voice on the issue of Balochistan and missing persons. Sharif was also in favor of friendly relations with India and opposes drone strikes by U.S.
The 63 year old leader views terrorism as a major threat to the nation, and to counter that is in favor of peace talks with the Taliban group. The newly elected PM also promised to address the power issues that the residents have to face on a daily basis, despite the country being nuclear equipped. Sharif also issued a warning to the US authorities to stop the drone strikes on Pakistani soil. The U.S. has been carrying out drone attacks targeting militants and Taliban leaders.
“The drone attacks that are being carried out now, stop now,” said Sharif.
The PML-N chief has also vowed to provide new roads, motorways and airports at various places, and not to forget a bullet train for the country. All the promises made by Sharif, apart from winning him the majority also resulted in an unprecedented rise in the stock market.
Sharif’s journey has not been easy. Earlier, he had to face a military coup followed by a seven-year exile to Saudi Arabia and a government dismissal.
The party lead by Sharif that gained majority in the May 11 elections, unanimously selected their leader for the third time.
Nawaz Sharif’s Life Style
Nawaz Sharif had been notoriously known for his extravagant lifestyle and a touch of arrogance, which he displayed, when he was in power from 1990 to 1993, and from 1997 until he was ousted in 1999. Despite this analysts and leaders in Pakistan and U.S. have welcomed his return to power.