31 Jan 2024
Pakistani finance professionals have picked Pakistan Tehreek-e-Insaf (PTI) founder and former prime minister, Imran Khan, to oversee the economic recovery of the cash-strapped country, according to a survey conducted by Bloomberg.
According to Bloomberg, Imran Khan, who has been sentenced to jail for 10 years in the cipher case and 14 years in the Toshakhana case, was ranked top among 12 Pakistani traders, economists, and analysts from the biggest brokerages.
As per the respondents of the survey, cricketer-turned-politician is popular and would be able to "push through market-focused reforms in the long run."
The respondents stated that PML-N supremo Nawaz Sharif is their second choice as he has experience in running government matters and "is backed by the country's powerful army."
PPP chairman Bilawal Bhutto Zardari came third but the respondents didn't trust him due to dynastic politics, Bloomberg reported.
Earlier, a report of Pakistan’s misery index by Bloomberg Economics revealed that Pakistan's economy under Nawaz Sharif's premiership — who ruled the country thrice — had the best performance over the past three decades as compared to his rivals' tenures.
"[...] Whoever wins the polls will oversee an economy that’s grappling with low reserves and stubbornly high inflation. The country is likely to require another loan from the International Monetary Fund to stay afloat," the publication said.
Following are the other findings from the survey carried out in January:
- Poll contributors expect Pakistan’s economy to log 2.65% growth in the fiscal year starting July. The government estimates the economy will expand 2%-2.5% in the current fiscal year after contracting about 0.3% last fiscal year.
- Inflation is likely to moderate to 25.05% in the fiscal year ending June. It now stands at about 30%.
- Four respondents said Pakistan can survive without an IMF loan for three months while two said nine months. None said the country could survive for more than a year without a bailout.