Pakistan’s PM disqualified from office

ISLAMABAD: Pakistan’s Supreme Court disqualified Prime Minister Nawaz Sharif from office yesterday over undeclared assets, plunging the nuclear-armed South Asian nation into political turmoil after a period of relative stability.

Sharif resigned but his spokesperson said there were “serious reservations” about the judicial process after the court ordered a criminal probe into his family over allegations stemming from the “Panama Papers” leaks of international offshore companies.

Sharif ’s ruling Pakistan Muslim League-Nawaz (PML-N) party, which won a majority in parliament in 2013, is expected to name a new prime minister to hold office until elections due next year.

Among possiblities are Defence Minister Asif Khawaja, Planning Minister Ahsan Iqbal and Petroleum Minister Shahid Abbasi.

The incoming leader will have to tackle worsening ties with the US, frayed relations with arch-foe India, and persistent threat from Islamist militants. The economy is benefiting from vast investment from China, but economists are sounding alarm bells about falling currency reserves and dwindling exports.

The ousting of Sharif, 67, who has served as premier on three separate occasions, also raises questions about Pakistan’s fragile democracy. No prime minister has completed a full term in power since independence from British colonial rule in 1947.

The court verdict marks a major political victory for opposition leader Imran Khan, a former cricket star who last year threatened mass protests unless Sharif’s wealth was investigated. Khan pounced on the leaking of the Panama Papers, which revealed Sharif’s family had bought London flats through offshore companies.

“Today is a victory day for Pakistan,” said Khan. “Today onward, big thieves will be caught.