Government

Imran Khan Ousted as Pakistan Leader, Paving Way for Power Shift

Pakistan lawmakers ousted former cricket star Imran Khan as prime minister in a no-confidence vote, ending his four-year run as leader after he clashed with the country’s powerful military and Asia’s second-fastest inflation eroded support. 

A united opposition bloc cobbled together 174 lawmakers to vote against Khan after midnight in Islamabad, two more than required to remove him from office. Parliament will convene again on Monday to pick a new prime minister, which will almost certainly be opposition leader Shehbaz Sharif.

“A new morning is beginning, a new day is about to start,” Sharif told lawmakers after the results were declared in the early hours of Sunday. “The prayers of millions of Pakistanis have been heard.”

The political shakeup in the world’s fifth-most populous nation is likely to immediately rebalance Pakistan’s foreign policy more toward the U.S. and Europe. Khan had shifted Pakistan closer to Russia and China, and sought to sabotage the no-confidence vote by claiming the Biden administration conspired with the opposition to remove him from power.

A Sharif-led government is also likely to help secure about $3 billion left from an International Monetary Fund loan needed to bolster foreign reserves and the currency. The rupee is trading near a record low against the U.S. dollar and foreign currency reserves have dropped to the lowest in about two years, enough to cover a couple months of imports. The central bank surprised analysts last week with the biggest rate hike since 1996.

Ahead of his ouster, Khan called on supporters to protest peacefully after evening prayers on Sunday. A national vote must be held by August 2023, and Khan is already pressuring the opposition to go to the polls.

Khan’s loss came after a fallout with Pakistan’s army over a range of issues, including interference in military promotions, his rocky relationship with the U.S. and management of the economy. Pakistan’s military has ruled the country for almost half of its 75-year history, and no prime minister has completed a full term in that time.

Khan didn’t go quietly. Last weekend, his party shocked Pakistan when one of his allies canceled the no-confidence vote over the foreign interference claims, after which Khan quickly called an election. Pakistan’s opposition called the move treasonous, as the constitution doesn’t allow parliament to be dissolved during a no-confidence debate.

Pakistan’s Supreme Court later rejected Khan’s rationale for scrapping the vote and ordered the no-confidence vote to go ahead on Saturday. During the parliament session, Khan’s party triggered multiple adjournments by repeating claims without showing evidence that the U.S. wanted to oust his government — an allegation the Biden administration has denied.

When the vote finally took place, opposition lawmakers cheered and clapped as the numbers were called out. Television channels showed opposition party flags being waved on the street and celebratory fireworks and gunfire sounded in Karachi and Islamabad.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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