Imran Khan has broken the decades old dynastic hold on Pakistani politics: American media
Shares
*NEW YORK: American print and electronic media continues to highlight cricket star Imran Khan's triumph in the Pakistani elections, saying that his party, the Pakistan Tehreek-i-Insaf, has broken the dynastic hold on the country's politics.*
"The victory for the 65-year-old ex-cricket captain turned anti-corruption crusader ends the decades long rotational grip of Sharif's PML-N and the PPP, headed by Bilawal Bhutto Zardari - the son of assassinated former premier Benazir Bhutto - parties Khan accused of entrenched graft, which they both deny," Bloomberg, an international news service, said in a dispatch, pointing out that Imran Khan's pledge to eradicate corruption appealed to voters.
In a victory speech, Imran Khan said he was ready to probe the allegations wherever indicated by the opposition, while acknowledged that fixing the economy was the ''greatest challenge'' and he would implement wide-ranging reforms.
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 next government will need to seek another International Monetary Fund bailout," Bloomberg said, adding that Pakistan's main stock index has risen more than 3 percent since Thursday.
Pakistan's rapidly deteriorating finances will be top of the agenda for the next government.
The currency, the worst performer in Asia, has plunged 15 percent since December.
The central bank has raised interest rates, the current-account gap has widened by 43 percent in the last fiscal year and foreign-exchange reserves are dropping.
"The economy is facing extreme stress," Asad Umar, a member of Imran Khan's party favoured to become finance minister, told Bloomberg News before the result.
"There is a need for urgent structural reforms."
The dispatch said, "With 44 percent of the electorate between the age of 18 to 35, Khan's anti-corruption mantra and tirades against the two main dynastic parties won support particularly from young voters thirsty for change."
"I vote for change -- we have no choice," 18-year-old Muzamil Asif, a communications student and PTI supporter who cast his ballot for the first time in Karachi was quoted as saying.
"Mr Khan's success in the elections is a stunning rise for someone who has spent much of his political career on the fringes of Pakistan politics," a dispatch in The New York Times said.
The paper also said, "One of the first tasks for Khan, once he forms the government, will be to avert a currency crisis, which follows four devaluations of the rupee currency since December, and will likely require Islamabad to seek Pakistan''s second International Monetary Fund bailout since 2013."
