ISLAMABAD: The power matrix has decided to form a technocrat government and constituted a team comprising of economic experts, informed sources told News360.
Sources said that a technocrat government could be formed in the country before the Islamabad’s long march of Pakistan Tehreek-e-Insaf (PTI) Chairman Khan. It emerged that a caretaker prime minister and a team were finalised by the power matrix.
“Former finance ministers Shaukat Tarin, Abdul Hafeez Shaikh, economic experts Ashfaq Hassan Khan, Dr Sania Nishtar and former governor of the State Bank of Pakistan (SBP) Dr Reza Baqir have been shortlisted but it is due to decide on the name of the caretaker prime minister.”
Sources said that the power matrix has decided to bring in a team of economists as the present government has not taken tough decisions on the economic front.
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The government of technocrats comprising of economists is expected to sign an agreement with the International Monetary Fund (IMF) to receive loans on toughest conditions such as abolishing subsidies on petroleum products and electricity.
The new government will also modify different laws including accountability, and electoral reforms besides making key decisions regarding the appointments following the retirement of the Army Chief General Qamar Javed Bajwa in November.
Sources told News360 that the tenure of the technocrat setup could be extended from nine months to a year and all political parties would be sent home, whereas, the long march would be postponed.
Analysts said that Pakistan is facing a severe economic crisis internally and externally and needs to find a solution internally. Conditions are very unfavourable for Pakistan’s economic development and tough decisions will have to be made to end the uncertainty and economic woes, they added.
They said that if Pakistan’s worst economic crisis was not resolved timely, the situation would get worse and if the ruling powers did not make a decision, it would be impossible to stop the country from becoming Sri Lanka. They said that if a technocrat government is being formed, then it should be given full powers for bringing reforms