Pakistan's New Prime Minister Bets on Centrism... Revises Diplomacy Toward the U.S.

Published 12 Apr.2022 07:28(KST)

[Image source=EPA Yonhap News]

[Asia Economy Reporter Kim Hyunjung] According to Bloomberg News on the 11th (local time), Shehbaz Sharif, former Punjab Chief Minister who was elected as Pakistan's new Prime Minister just one day after the ousting of former Prime Minister Imran Khan, is betting on centrism and is expected to revise the country's foreign policy toward the United States.

The news agency reported that the parliament describes the newly elected Prime Minister Sharif, who was chosen after Khan was removed through a no-confidence vote, as "a skilled person who can maintain a balance in relations between the United States, China, Russia, or the Pakistan military." Former financial advisor Mifta Ismail explained about Prime Minister Sharif, "He seeks friendly relations with all countries."

Prime Minister Sharif hails from Lahore, the capital of Punjab province, and comes from a wealthy and politically prominent family. He is the younger brother of former Prime Minister Nawaz Sharif, who served as prime minister three times. He has also served three terms as Chief Minister of Punjab, Pakistan's most populous province, and since March 2018, he has been the president of the Pakistan Muslim League-Nawaz (PML-N), succeeding his brother.

Dozens of lawmakers supporting Khan resigned on the same day, raising concerns that this situation could complicate the new prime minister's negotiations with the International Monetary Fund (IMF) over a $3 billion loan program aimed at stabilizing the country's finances.

[Image source=Reuters Yonhap News]

Recently, Pakistan's economy has been facing severe difficulties such as rising inflation and foreign currency shortages. Experts have pointed out that the cause lies in the surge of debt due to participation in China's Belt and Road Initiative, compounded by the COVID-19 pandemic and government mismanagement. Former Prime Minister Khan, known for his pro-China stance, also claimed that the parliamentary no-confidence vote against him was a "conspiracy by the United States."

Addressing Khan's supporters who accuse Prime Minister Sharif of being a puppet of the United States, Sharif made it clear on the 2nd that "true independence comes from self-reliance" and emphasized the importance of maintaining friendly relations with the U.S. for Pakistan's economy. In an interview with local media at the time, he stressed, "The concept of sovereignty cannot be achieved without 'blood, sweat, and tears,' and without economic sovereignty, it is incomplete."

In Pakistan, no prime minister has completed a full five-year term so far, and Imran Khan was the first to leave office due to a no-confidence vote. Prime Minister Sharif is expected to serve until around August next year when the next general election is scheduled, but some speculate that Sharif may call for an early election.