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10-May-2023, Updated on 5/10/2023 10:08:47 PM
Imran Khan Arrest- Latest Political News
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The paramilitary force and NAB (National Accountability Bureau) has taken Imran Khan, the former PM of Pakistan and head of the Tehreek-e-Insaf (PTI) party, into custody in connection with a corruption case (the Al-Qadir Trust Case). The sensational capture video outside the court's premises additionally circulates around the web via online entertainment stages.
The arrest was condemned nationwide by Khan's supporters, who are also former cricket stars. Fawad Chaudhry, a senior PTI official, told the news agency AP that agents from the National Accountability Bureau dragged Khan outside the Islamabad High Court and forced him into a police vehicle.
With inflation exceeding 36%, Pakistan is already running out of dollars. In this way, Imran Khan's capture made an already difficult situation even worse. A day after the powerful Pakistani army said that Khan had made unfounded accusations against a senior ISI officer, Khan was taken into custody.
So, let's talk about this hot topic in this view, including the case that led to his arrest, how his arrest hurt Pakistan's already-damaging economy
Imran Khan was taken into custody on suspicion of a crime connected to the Al-Qadir University Trust case. The allegations are made against Imran Khan, Bushra Bibi, his wife, and a few other PTI leaders regarding the establishment of Al-Qadir University.
In the middle of 2022, the new coalition government said that Khan and his wife had gotten land in their trust worth billions of rupees from Malik Riaz, a real estate developer from Bahria Town, to set up this educational institution called Al-Qadir University to provide high-quality education in the Jhelum district of Punjab.
Riaz is a significant property mogul in Pakistan. However, in order to save Bahria Town, which was involved in a money laundering case, it is alleged that Imran Khan and his wife stole billions of rupees in this case. Thus, Khan and his better half showed that this ₹50 billion is being involved by their trust for the foundation of the College. .
This alleged settlement between his government (PTI) and Riaz resulted in a $50 billion loss for Pakistan's weak economy.
“Adjusted this 50 billion" to the government, according to Imran Khan and other government leaders. In addition, it is alleged that the leaders of the PTI received undue benefits in the form of more than 458 kanals of land at Mouza Bakrala, Sohawa, for the purpose of establishing Al Qadir University.
Imran Khan allegedly also sought the assistance of close associates Zulfiqar Bukhari and Babar Awan from the real estate company Bahria Town to legalize the 50 billion that had been laundered.
As a result, the authorities in Pakistan claim that members of the National Accountability Bureau (NAB) arrested Imran Khan, specifically in connection with the Al-Qadir Trust case. They also claim that Khan is the subject of numerous additional cases of corruption.
The economy of Pakistan is already struggling with low growth, high inflation, high unemployment, and a seriously deteriorating external balance. Therefore, Imran Khan's arrest added another blow to Pakistan's already dire situation. The disproportionate involvement of the government in economic activities, the large informal economy, the workforce that is primarily dependent on agriculture, the focus on cotton-related production activities, the neglect of the services economy in public policies, the low rate of savings, and other factors are the primary sources of concern for Pakistan regarding structural imbalances.
This demonstrates that Pakistan requires extensive economic reform to eliminate these structural imbalances. Let's get into the specifics of Pakistan's turmoil:
Economy Imbalances: Since the central bank raised interest rates to 21 percent to reduce inflation, industrial activity has been very steady. People are even willing to pay very high prices for essential goods due to unforeseen circumstances.
IMF Bailout: Since November, an IMF bailout program that was supposed to end in June has been stopped. At the moment, Pakistan's $4.457 billion in foreign exchange reserves can barely cover a month's worth of imports. The steps taken by China, Saudi Arabia, and the United Arab Emirates to alleviate Pakistan's debt have not yet been fully carried out.
For Pakistan to receive a $1.1 billion loan installment, the IMF has imposed a number of conditions, including raising taxes and liberalizing the rupee's exchange rate.
Political diversity and pressure: Imran Khan's capture for supposed defilement, who was expelled as PM in 2022, had developed strain on the public authority through a supported political mission. The public and law enforcement agencies in Pakistan are at odds, causing serious concerns.
According to the sources, Imran Khan, who traveled from Lahore to Islamabad, was subjected to a biometric procedure at the court when the Rangers broke open the glass window and arrested him after beating his lawyers and security staff.
In the last, I would say that Imran Khan's capture will add one more disaster for Pakistan's now decaying economy and political security. Countries like Syria, Somalia, Iraq, Libya, Afghanistan, lack more political stability than Pakistan, which causes serious concerns for them because it means fewer investments and a slower rate of economic development. The circumstance in Pakistan is just declining, and it is yet to perceive how the nation will remain steadfast against such disturbances.
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