ISLAMABAD:On the first anniversary of the February 8 elections, the ruling Pakistan Muslim League-Nawaz (PML-N)-led government is commemorating a year of “stability and economic progress,” while the opposition, particularly the Pakistan Tehreek-e-Insaf (PTI), is marking it as the “biggest electoral fraud in history.”
While government officials describe February 8 as a “day of advancement and development,” highlighting improvements in key economic indicators and overcoming financial instability, opposition parties view it as a “black day,” claiming the PTI’s mandate was stolen through electoral manipulation, leading to the installation of an “unelected” government.
Although Information Minister Ataullah Tarar did not provide an official response, Pakistan Peoples Party (PPP) Punjab Governor Saleem Haider fueled controversy by questioning Tarar’s election victory against PPP Chairman Bilawal Bhutto Zardari. Speaking to the media, Haider stated, “It is certain that Tarar did not win his election.” He went further, saying that many candidates won through manipulated Form 47 results, particularly in Rawalpindi, Attock, and Karachi.
When asked if the PTI had a legitimate mandate, Haider dismissed the elections as orchestrated by Returning Officers (ROs) and called for accountability for those responsible for election irregularities.
Meanwhile, PTI Information Secretary Sheikh Waqas Akram released a video message emphasizing that the party founder, Imran Khan, along with other leaders and workers, had faced intense political persecution since the alleged “regime change” operation, which intensified before the elections and continues today.
Akram announced that PTI would observe February 8 as a “black day” and hold a public rally in Swabi, while protests would also take place across Punjab, Sindh, and Balochistan.
In response, Defence Minister Khawaja Asif criticized the PTI’s decision to hold a protest in a province where it had won seats. Posting on X, he challenged PTI to organize similar rallies in Punjab, Sindh, and Balochistan, asserting that public funds were being misused for their demonstrations.
Economic Outlook: Progress Amid Controversy
Despite political discord, economic analysts note that Pakistan’s economy has shown improvement in the first half of the financial year 2025, building upon stabilization efforts in FY2024, when GDP grew by 2.5% following a contraction the previous year.
Inflation dropped significantly from 28.8% to 7.2%, aided by global price reductions, a stable exchange rate, and government policies. Experts credit policy reforms, fiscal consolidation, and monetary easing for laying the groundwork for economic momentum. The current account balance recorded a surplus of $1.21 billion during July-December FY2025, supported by strong export performance and record-high remittances.
Foreign direct investment (FDI) increased by 20%, particularly in the power and oil sectors. Foreign exchange reserves remained sufficient to cover over two months of imports, bolstered by International Monetary Fund (IMF) disbursements and global financial assistance. Additionally, the Pakistani rupee appreciated by 1.2%, reflecting improved external economic conditions.
Industrial and Agricultural Performance
The economy showed mixed performance across sectors. In the first quarter of FY2025, GDP growth was recorded at 0.9%, compared to 2.3% in the same period the previous year. Agriculture grew by 1.15%, and the services sector expanded by 1.43%, while the industrial sector showed signs of recovery despite a continued contraction.
Large-scale manufacturing (LSM) recorded a slight decline of 1.25% in July-November FY2025, a smaller drop compared to the 1.9% contraction in the same period last year. The industrial sector overall showed a reduced contraction of -1.03%, compared to -4.43% the previous year, indicating gradual improvement.
Mining and quarrying declined by 6.49%, while the construction sector faced a sharp contraction of 14.91%. However, manufacturing, electricity, gas, and water supply sectors showed positive growth.
Remittances and Foreign Investment
Remittances surged by 32.8%, reaching $17.8 billion in the first half of FY2025, driven by increased migration, exchange rate stability, and government incentives. Foreign direct investment (FDI) also saw a notable rise, reaching $1.329 billion compared to $1.11 billion the previous year.
While the government attributes these economic improvements to its policies and investment-friendly environment, the opposition remains critical of the electoral process that brought the administration to power. PTI and its allies continue to reject the government’s legitimacy, claiming election manipulation and vowing to mark February 8 as “poll theft day” through protests nationwide.
The growing divide between the government and opposition highlights the ongoing political tensions, as Pakistan navigates both economic recovery and electoral controversy.
