After days of intense negotiations, senior leaders from the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP) have announced the finalization of an agreement to form a new coalition government.
In a joint press conference held late on Tuesday night, PPP Chairman Bilawal Bhutto-Zardari revealed that PML-N President Shehbaz Sharif, aged 72, is poised to reassume the role of Prime Minister, while PPP co-chairman Asif Zardari, aged 68, is expected to reclaim the position of President.
Bilawal expressed confidence in the coalition's ability to form the government, stating that the PPP and PML-N have secured the necessary support to do so. He also highlighted that the Pakistan Tehreek-e-Insaf (PTI) party, backed by former Prime Minister Imran Khan, along with the Sunni Ittehad Council (SIC), failed to secure a majority in Parliament.
Anticipating a positive response from the market, Bilawal emphasized the significance of the political alliance with PML-N in addressing the challenges faced by the country, particularly its hung Parliament status following the February 8 elections.
Shehbaz Sharif echoed Bilawal's sentiments, affirming that the PML-N, in collaboration with the PPP, possesses the requisite numbers to form the next government. He expressed gratitude to the leadership of both parties for successfully concluding the negotiations.
With the PML-N securing 75 seats and the PPP securing 54 seats, the coalition has also garnered support from the Muttahida Qaumi Movement Pakistan (MQM-P), which holds 17 seats.
To form a government, a party must secure 133 out of the 265 contested seats in the 266-member National Assembly.
In response, Imran Khan's PTI criticized the newly formed alliance as 'PDM 2.0', denouncing them as 'mandate thieves'. This alliance announcement followed inconclusive talks between the top leadership of the two parties on Monday regarding a power-sharing arrangement.
Looking ahead, Shehbaz Sharif acknowledged the challenges that lie ahead for the new government but expressed confidence in overcoming them together with the coalition. Similarly, Asif Zardari emphasized that the coalition's efforts are driven by the country's best interests and the welfare of future generations.
The February 8 elections have been marred by allegations of widespread rigging, prompting Imran Khan's condemnation of the electoral process and the suspension of internet services, which he claims were used to manipulate the election results.
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