Inside Financial Markets

Nawaz Sharif elected as Prime Minister

nawazISLAMABAD:IFM – Web Desk : Pakistan Muslim League-Nawaz (PML-N) chief Nawaz Sharif became the first politician in the country’s parliamentary history to make it to the office of prime minister for a third time, 

Nawaz Sharif beat his competition by receiving a total of 244 votes, whereas Makhdoom Javed Hashmi received 31 votes and Makdhoom Amin Fahim recieved a total of 42 votes.

After formally chosen by a vote in the National Assembly, Sharif is set to take the oath from President Asif Ali Zardari at 5pm local time.

Nawaz was up against two candidates: Makhdoom Javed Hashmi of Pakistan Tehreek-e-Insaf (PTI) and Makhdoom Amin Fahim of Pakistan Peoples Party-Parliamentarians (PPPP). But the combined numerical strength of the two parties is less than that of PML-N.

The National Assembly is occupied by around 190 first time MNAs and witnessed the return of some veteran politician including former railways minister Sheikh Rasheed Ahmed and former premier Mir Zafarullah Jamali.

PML-N holds a simple majority in the 342-member National Assembly.

With a simple majority, the Pakistan Muslim League-Nawaz will take on the helm of affairs at a time when Pakistan is facing myriad problems from militancy to a shaky economy, worsening power crisis and failing public education and healthcare systems.

Ali Nawaz

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Inside Financial Markets was a joint publication of Pakistan Stock Exchange (PSX)and Society of Technical Analysts Pakistan (STAP)