Political situation boiling up, stock market melting down in Pakistan

NewsPolitical situation boiling up, stock market melting down in Pakistan

Islamabad, Pakistan: Sunday was an active day for political reporters and political analysts as political situation boiling up in Pakistan.

In a situation where roads are closed with containers, political workers gathering outside the residence of chairman Tehreek-e-Insaf (PTI) Imran Khan and one of the top federal ministers removed from his portfolio, benchmark 100-share index of the Pakistan Stock Exchange may slide down further on the opening of market on Monday morning after week off days.

While Pakistan Tehreek-e-Insaf (PTI) has no plan to retreat from locking down capital of Pakistan on November 2, 2016, second largest political party in parliament has given deadline of November 7, 2016 to Prime Minister of Pakistan Mian Nawaz Sharif to accept options given by opposition to move ahead with Panama Leaks issue.

Chairman of Pakistan People’s Party (PPP) Bilawal Bhutto Zardari said in Quetta that he would kick off early elections campaign if federal government failed to accept four-point formula to address issue of Panama Leaks.

Overall political situation is denting benchmark 100-share index of the Pakistan Stock Exchange that  was closed down 0.29 percent, or 114.43 points, at 39,872.88 on Friday. The index fell 3.4 percent this week and Monday (tomorrow) would determine where the index would stand after more shakeups including the removal of one of the top federal ministers on Friday evening.

Interior Minister Ch. Nisar held a press conference on Sunday afternoon in Islamabad about Newsgate scandal but did not shared names of those who could be behind planting or feed published in largest selling English daily Dawn newspaper.

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Former Federal Information Minister Pervaz Rasheed with Prime Minister Mian Nawaz Sharif and dauther of Prime Minister Maryam Nawaz Sharif

He just mentioned that former Federal Information Minister Pervaz Rasheed was replaced because Rasheed should have stopped this news from publication. However, he did not mention how Federal Minister of Information could stop the largest selling newspaper having business links with US based media houses to publish the story that according to Ch. Nisar was against the facts and completely distorted and it damaged Pakistan’s narrative.

In his press conference he informed mediamen that he shared investigation report on Dawn story to Prime Minister Mian Nawaz Sharif and gave him recommendations.

“Meeting with Chief of Pakistan Army Gen Raheel Sharif was not a secret. According the recorded documents, Information Minister was told that a journalist had news related to Prime Minister and Chief Minister Punjab and he wants to inquire about it. As information minister he should have stopped this news from publication. Pervez Rashid has his own point of view and he will present it in Committee’, maintained Ch. Nisar.

While commenting over November 2 lockdown announced by PTI, Ch Nisar stated that no one would be allowed to occupy government buildings as PTI did during 2014 sit in outside Parliament House. Nisar was of the view that lockdown was a crime against the state.

Meanwhile, Chairman PTI Imran Khan while talking to media outside his Bani Gala residence on Sunday evening said that protest was democratic and constitutional right and PTI was not spreading anarchy in the country.

He categorically denied that PTI was gathering weapons inside Bani Gala. It may be mentioned that federal police claimed that policemen recovered a huge cache of arms from the vehicle of one of the top leaders of PTI from KPK province when he was going inside Bani Gala.

Meanwhile, Chairman PPP Bilawal Bhutto Zardari who visited Quetta on Sunday to meet injured police cadets in hospital blamed PTI for acting on the instructions of someone. However, he refrained from mentioning who was (is) this someone. He claimed that PTI was acting just like a puppet while strings were (are) in the hands of someone.

He asked Prime Minister Mian Nawaz Sharif to accept four demands presented by opposition to address Panama Leaks issue or be ready for early elections.

He also demanded the resignation of Interior Minister Ch. Nisar claiming that he had in contact with extremist and radical elements while referring to a recent meeting of Ch. Nisar with some leaders of extreme religious parties in Islamabad.

“Next couple of weeks will determine who is loser and who is winner in political maneuvering and stake are high and risks are fatal”, commented a senior political reporter when asked to comment about political scenario.

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