ISLAMABAD – The abrupt departure of Punjab Chief Minister Shehbaz Sharif toSaudi Arabia has triggered speculations about a possibility of another NRO(National Reconciliation Ordinance) for the Sharifs, at a time whenelections are around the corner.
This was followed by the mysterious departure of PML-N lawmakers KhwajaSaad Rafique and Pervaiz Malik to Saudi Arabia – both are considered closeaides of Nawaz Sharif who himself is set to board a plane Friday along withhis daughter, Maryam Nawaz.
Informed diplomatic sources toldPakistan Today that Saudi Arabia is notgoing to play any role in adding to the political crisis of Pakistan. Theysaid that the Saudis would play a role for political stability, continuityof democratic system, and will urge the elder Sharif to put an end totargeting the military and judiciary.
“Sharif family will be advised to show restraint and allow a smoothtransition of power. Pakistan is all set to enter a crucial phase as theearly harvesting phase of China-Pakistan Economic Corridor (CPEC) isconsolidating next year,” the sources said.
The sources disclosed that Saudi Arabia wants Pakistan to rise as a robusteconomic force as economic and political stability are the need of thehour. They also said that the kingdom will also announce a hefty economicpackage to Pakistan help meet its economic challenges.
“This economic package would not be for the ruling party. Saudi Arabia ishelping the state of Pakistan as the bond between the two countries is notlimited to certain individuals, but it is a bond between the brotherlystates. It also reflects the trust and faith Saudi Arabia has in the stateof Pakistan, its government and people,” the diplomatic sourcetold Pakistan Today on anonymity.
It is pertinent to mention here that the economic package is a part of anunderstanding reached between King Salman and Pakistani leadership duringthe recent visit of Prime Minister Shahid Khaqan Abbasi and army chiefGeneral Qamar Javed Bajwa, wherein both dignitaries had urged the Kingdomof Saudi Arabia to help Pakistan meet its imminent economic woes.
The request for assistance from Saudi royal family included the provisionof oil on deferred payment mode besides financial assistance.
As the country is all set to enter the election year with a heavydevelopment programme, Pakistan is facing economic challenges, includingrepayment of $ 6 billion to the International Monetary Fund (IMF) and otherforeign creditors in the next six months.
In addition to this, Pakistan’s trade deficit has reached $12.1 billion inthe first four months of the current fiscal year due to increasing importsof the country, which have put further pressure on the foreign exchangereserves.
Pakistan’s exports were registered at $7.1 billion during July-October of2017, whereas imports touched $19.2 billion. Although Pakistan floated $2.5billion Euro Bonds in the international market last month to boost thereserves, the economic experts suggested that Pakistan will again have togo to the IMF if there is no immediate financial injection. The rupee slidealso has been witnessed recently that led to an increase in the country’stotal loan.