Ex-PM Sharif unveils party’s election manifesto as Pakistan gears up for polls

Pakistan's former Prime Minister and leader of Pakistan Muslim League Nawaz (PMLN) party Nawaz Sharif (R) with his daughter Maryam Nawaz (L) waves to supporters during an election campaign rally at Mansehra in Khyber Pakhtunkhwa province on January 22, 2024. (AFP/File)
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Updated 27 January 2024
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Ex-PM Sharif unveils party’s election manifesto as Pakistan gears up for polls

  • In ambitious manifesto, Sharif’s PML-N party promises to drastically slash inflation and enhance wages
  • Analysts say majority of the targets are achievable, but require overhaul of economic, taxation system

ISLAMABAD: Former prime minister Nawaz Sharif on Saturday unveiled the election manifesto of his Pakistan Muslim League-Nawaz (PML-N) party and vowed to drastically cut inflation, enhance trade through exports and promote peace with neighboring countries, as the South Asian country heads for polls slated for Feb. 8.
Electioneering is gaining momentum in the nation of 241 million people by the day as political parties gear up for national polls less than two weeks away. The PML-N, which has won elections thrice and formed a government most recently in April 2022 after ousting former prime minister Imran Khan in a parliamentary vote, is a strong contender in the upcoming polls.
Sharif’s party has always positioned itself as one that champions development and takes credit for building a vast network of roads and launching state-of-the-art mass transit projects in Pakistan. The party has vowed to rid the country of its pressing issues of inflation and militancy.
“A lot of hard work has gone into preparing, writing and printing this manifesto,” Sharif told reporters at a news conference in the eastern city of Lahore. “If Allah allows us to form our government once again, we will fully implement it.”
Sharif spoke highly of his previous tenure as prime minister from 2013-2017, regretting what he called were conspiracies hatched by his opponents, especially former prime minister Imran Khan, to oust him from power.
“What did you do during your four years in power,” Sharif asked, referring to Khan’s tenure from 2018-2022 as the country’s prime minister. “Can you even put one finger to a project that you fulfilled?”
The party’s ambitious election manifesto, a copy of which was seen by Arab News, aims to bring inflation down to single-digit figure within one year and in five years, reduce it drastically to 4-5 percent. The document also states that the party would take Pakistan’s annual exports to $60 billion in five years and enhance workers’ remittances to $40 billion annually.
The PML-N said it would enhance public wages to “match inflation” and achieve a 6.0 plus gross domestic product (GDP) target within three years of forming its government.
As far as its plans to provide cheap power are concerned, the manifesto said the party would reduce electricity bills by 20-30 percent, produce another 15,000 megawatts and provide subsidies to farmers and the underprivileged.
On international relations, the party vowed to “forge even closer ties” with China and deliver the next phase of the multi-billion economic corridor with Beijing.
“The PML-N strongly holds the position that normalization of ties with India cannot take place till New Delhi reverses the unilateral measures taken on August 5, 2019,” the manifesto read.
“Relations anchored in mutual respect, shared vision for regional stability and economic growth.”
Pakistan, which is being run by a caretaker government under Prime Minister Anwaar-ul-Haq Kakar, is scheduled to hold national polls next month.
Sharif, who arrived in Pakistan in October last year to lead the PML-N ahead of polls, is eyeing a victory in the elections once again to become prime minister for the fourth time.
Political analysts say the PML-N manifesto is “ambitious” but most of the targets are achievable only through a proper strategy and good governance.
“Majority of the targets set in the manifesto are achievable, but the issue is political stability and trust of the people in the political system,” Dr. Rasul Bakhsh Rais, a political scientist, told Arab News.
He said the biggest issue at the moment was to see if the elections would be free and fair to reflect the “actual public mandate” in the upcoming government.
“The PML-N has been in power before, so it is pertinent to ask them as to why they failed to implement the reforms in legal and judicial system they are promising now to the public,” he said.
Dr. Khurram Shahzad, a senior economist, said the promises in the manifesto would remain superficial unless a proper strategy was devised to implement them.
“We need a complete overhaul of our economic and taxation system to boost the government’s revenues instead of mere cosmetic measures to fix them,” he told Arab News.
“Also, the strategy of how to do and achieve it all is conspicuously missing from the PML-N manifesto.”


Pakistan regulator amends law to facilitate capital raising by listed companies

Updated 19 January 2026
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Pakistan regulator amends law to facilitate capital raising by listed companies

  • The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
  • Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,

The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.

This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.

“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.

The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.

The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.

“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.

“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”

The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.