Former Pakistani Prime Minister Nawaz Sharif vows to work towards economic recovery

ISLAMABAD, Oct 21 (Reuters) – Pakistan’s three-time prime minister Nawaz Sharif on Saturday kicked off his party’s campaign for next year’s general elections in earnest after returning from four years in self-imposed exile in London. , and vowed to tackle record inflation.

“I want to serve this country,” the 73-year-old veteran politician said in a speech to thousands of supporters in his eastern hometown of Lahore.

“My only wish is for this country to prosper,” he said after comparing current prices for basic goods to his last term in office before he was ousted in 2017.

He said he would “bring inflation under control” and vowed to work on economic recovery without making a plan.

Earlier, he landed at Islamabad airport on a chartered flight and signed an appeal against his jail conviction before leaving the country in 2019.

Sharif is serving a 14-year prison sentence for corruption and has not set foot in Pakistan since leaving for London for treatment in 2019. His conviction remains in effect, but a court on Thursday barred authorities from arresting him until Tuesday, when he is scheduled to appear in court.

His conviction prevents him from running for office or holding public office, but his lawyers say he plans to appeal and his party says he is seeking a fourth term as prime minister.

Sharif’s biggest challenge will be to wrest back support from his main rival, Khan, who remains popular despite being imprisoned after being ousted from the prime minister’s office in 2022.

Khan was also disqualified from the election following his conviction in August, which he is appealing.

economic growth

Pakistan, a nuclear-armed nation of 241 million people, is experiencing the effects of an economic crisis that worsened during the 16-month rule of Nawaz Sharif’s brother Shehbaz Sharif, who led the coalition government after Khan’s resignation. .

Elder Sharif has a track record of pursuing economic growth and development. When he was removed as prime minister in 2017, Pakistan’s growth rate was 5.8% and inflation was around 4%. Inflation was more than 31% year-on-year in September, and growth is expected to be less than 2% this year.

“The situation has worsened to the point where people have to choose between paying their electricity bills and feeding their children,” Elder Sharif told a rally in Lahore. “People can’t pay their bills. People are committing suicide.”

Sharif’s younger coalition government has had to agree to tough fiscal adjustments in order to resume funding from the International Monetary Fund (IMF), which had stopped disbursing money after Khan broke the deal at the end of his term. The rising cost of living is putting serious pressure on many Pakistanis. .

At the rally, Raheel Sarwar, 40, said, “Inflation killed me and my family financially. We closed our shop due to losses.”

Nawaz Sharif said he was forced out of the government on the orders of the powerful military after falling out with senior generals who play a major role in Pakistan’s politics.

The military then supported Khan in the 2018 general election, he said. Mr. Khan and the military deny this.

The military and Khan fell out in 2022, and in recent months the two sides have been embroiled in a bitter showdown that has given Sharif some political space.

The military denies interfering in politics.

“The eternal rule of Pakistani politics is that if you have good military talent, you’re always more likely to seize power,” said Michael Kugelman, director of the Wilson Center’s South Asia Institute.

“During Mr. Sharif’s long political career, relations with the military’s top brass have been at times cold and hot. They are now at a relatively cordial stage, and he stands to benefit politically.”

Our standards: Thomson Reuters Trust Principles.