*NEW YORK: American print and electronic media continues to highlightcricket star Imran Khan’s triumph in the Pakistani elections, saying thathis party, the Pakistan Tehreek-i-Insaf, has broken the dynastic hold onthe country’s politics.*
“The victory for the 65-year-old ex-cricket captain turned anti-corruptioncrusader ends the decades long rotational grip of Sharif’s PML-N and thePPP, headed by Bilawal Bhutto Zardari – the son of assassinated formerpremier Benazir Bhutto – parties Khan accused of entrenched graft, whichthey both deny,” Bloomberg, an international news service, said in adispatch, pointing out that Imran Khan’s pledge to eradicate corruptionappealed to voters.
In a victory speech, Imran Khan said he was ready to probe the allegationswherever indicated by the opposition, while acknowledged that fixing theeconomy was the ”greatest challenge” and he would implement wide-rangingreforms.
The agency said that Imran Khan has led a relentless anti-graft campaign.
“The PTI leader campaigned on making Pakistan an ‘Islamic welfare state’,but the party will first have to deal with a mounting financial crisis:four currency devaluations since December have made it likely the nextgovernment will need to seek another International Monetary Fund bailout,”Bloomberg said, adding that Pakistan’s main stock index has risen more than3 percent since Thursday.
Pakistan’s rapidly deteriorating finances will be top of the agenda for thenext government.
The currency, the worst performer in Asia, has plunged 15 percent sinceDecember.
The central bank has raised interest rates, the current-account gap haswidened by 43 percent in the last fiscal year and foreign-exchange reservesare dropping.
“The economy is facing extreme stress,” Asad Umar, a member of Imran Khan’sparty favoured to become finance minister, told Bloomberg News before theresult.
“There is a need for urgent structural reforms.”
The dispatch said, “With 44 percent of the electorate between the age of 18to 35, Khan’s anti-corruption mantra and tirades against the two maindynastic parties won support particularly from young voters thirsty forchange.”
“I vote for change — we have no choice,” 18-year-old Muzamil Asif, acommunications student and PTI supporter who cast his ballot for the firsttime in Karachi was quoted as saying.
“Mr Khan’s success in the elections is a stunning rise for someone who hasspent much of his political career on the fringes of Pakistan politics,” adispatch in The New York Times said.
The paper also said, “One of the first tasks for Khan, once he forms thegovernment, will be to avert a currency crisis, which follows fourdevaluations of the rupee currency since December, and will likely requireIslamabad to seek Pakistan”s second International Monetary Fund bailoutsince 2013.” – APP