Pakistan Rupee Exchange Rate
PM Shehbaz Sharif’s government is to dissolve Pakistan’s National Assembly tonight, putting an end to a 16-month tenure characterized by political turmoil and economic instability. Jalil Abbas Jilani is also in the race for caretaker PM.
Following the removal of former Prime Minister Imran Khan through a parliamentary vote of no-confidence in April of the preceding year, Sharif assumed office. While the outgoing Prime Minister’s official term ends on August 12, he has announced an earlier dissolution of the assembly, on August 9.
This move is aimed at providing the caretaker government with a 90-day period to arrange general elections, compared to the constitutionally mandated 60 days if he were to step down on schedule.
Sharif will submit a dissolution request for the National Assembly to the president, who must dissolve parliament within 48 hours, triggering an automatic dissolution process. After the government’s tenure concludes, the president is required to nominate a caretaker prime minister in consultation with the outgoing prime minister and the opposition leader.
In the latest development, Ex-Diplomat and Foreign Secretary of Pakistan, Jalil Abbas Jilani has been named as the strong candidate for the caretaker PM.
Family Background and Early Life
Hailing from a prominent family of influential bureaucrats, Jalil Jilani was born on February 3, 1955, in Multan. His familial ties run deep, with his cousin being the former Prime Minister Yusuf Raza Gilani. Notably, he is the son-in-law and nephew of Makhdoum Salahuddin Jillani, the elder brother of Mr. Tassadaq Jilani, the former Chief Justice of Pakistan. Adding to his family’s distinguished connections, Jilani’s brother, Salim Abbas Jillani, holds the position of retired Defence Secretary. The Jilani family is known for their allegiance to the Pakistan People’s Party (PPP), and Jilani himself is proficient in multiple languages, including French, Arabic, Seraiki, Punjabi, and Pushto.
Educational Background
Jalil Jilani pursued his education at the University of Oxford, earning a Bachelor’s degree in Law and later an M.Sc degree in Defense and Strategic Studies. He embarked on his professional journey by joining the Foreign Service of Pakistan in March 1979.
Professional Path
Having ascended to the esteemed position of Grade-22 as the Foreign Secretary of Pakistan, Jilani’s diplomatic career showcased his expertise on multiple fronts. He served as Pakistan’s representative to the United States, Belgium, Luxemburg, the EU, and Australia. Notably, he was recognized as a specialist in South Asian affairs, with pivotal roles in SAARC, including acting as High Commissioner to India and Director (India) within the Ministry of Foreign Affairs.
Jilani held significant positions throughout his career, such as deputy secretary at the Prime Minister’s Office (1989-1992), deputy high commissioner to India (1999-2003), and postings in Jeddah and London during the 1980s.
During 2007-2009, Jilani assumed the role of Pakistan’s High Commissioner to Australia, concurrently acting as the Ambassador to the European Union. His contributions extended further when he became Pakistan’s Foreign Secretary in March 2012, overseeing the Ministry of Foreign Affairs as its top civil service official. This role was followed by his appointment as the 22nd Ambassador of Pakistan to the United States (2013-2017).
A similar process is followed by provincial governors. Sharif has indicated that the selection of a caretaker prime minister is yet to be finalized.
Addressing his cabinet in a farewell speech, Sharif highlighted the unique inclusion of leadership from all provinces in his government, emphasizing the collective efforts that have steered the nation to this juncture.
“As we conclude this phase, an interim government will assume power, elections will be conducted, and a new government will take office,” Sharif affirmed. “Together, we will diligently work alongside the new administration to propel the country forward.”
ONGOING POLITICAL AND ECONOMIC CHALLENGES
With the early dissolution of the assembly, general elections are now anticipated to be held by November. However, the recent approval of the results of a digital census has injected uncertainty into the electoral process. As per the constitution, the Election Commission is obligated to redefine constituency boundaries based on the latest population count, a process that may extend up to six months. Consequently, the polling day could be postponed by several months.
Meanwhile, Pakistan’s multifaceted economic and political issues persist. Central to the political crisis is Imran Khan, whose removal last year led to months of unrest and violent protests. Despite being the country’s most popular politician, Khan was convicted and imprisoned on corruption charges, subsequently being barred from politics for a five-year term by the election regulator. This effectively diminishes his prospects of participating in upcoming elections.
Khan’s legal team has appealed the conviction and disqualification, though he faces numerous other cases, encompassing charges such as terrorism, corruption, and murder. Khan attributes these cases to a crackdown orchestrated by the powerful military establishment and his political adversaries, a claim denied by both entities.
Simultaneously, the country grapples with elevated inflation levels, causing hardship for millions of ordinary citizens. The Consumer Price Index surged to 28.3 percent in July compared to the previous year, with a 3.5 percent rise from the previous month. In June, the year-on-year CPI increase was 29.4 percent, following a record 38 percent surge in May. In line with an agreement with the International Monetary Fund (IMF), Pakistan increased petrol and diesel prices on August 1, further exacerbating its high inflation rates.
Pakistan secured a last-minute $3 billion deal with the IMF on June 30, contingent upon commitments such as a petroleum levy of up to 50 rupees a liter, revenue augmentation, higher energy costs, and a market-driven exchange rate. These measures have contributed to the ongoing inflationary pressures.
“In our pursuit of the IMF deal, we encountered substantial challenges which we managed to overcome through collaborative efforts, with the support of our friendly nations—Saudi Arabia, UAE, and China,” Sharif emphasized during his cabinet address. “However, how long can we rely on seeking loans?”
