Presidential putsch

Article Abstract:

Pakistani Pres Ghulam Ishaq Khan initiated a political crisis by removing Prime Minister Nawaz Sharif from power on Apr 18, 1993 and naming Balakh Sher Mazari caretaker prime minister until elections are held on Jul 14. This action reprises earlier removals of prime ministers by Pres Zia-ul Haq in 1988 and by Ishaq Khan in 1990. Pakistani presidents have had broad powers since Zia changed the constitution in 1985 to replace parliamentary with presidential rule. However, Sharif has vowed to contest his dismissal and to organize opposition to Ishaq Khan.

Political activity, Political aspects, Appointments, resignations and dismissals, Sharif, Nawaz, Khan, Ghulam Ishaq

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Mounting bad debts

Article Abstract:

Pakistan's mostly state-owned banking system suffers from several problems. The government's control of 80% of all credit results in endlessly tight credit. Public sector and related banks have acquired 23.47 billion rupees of bad debt, equal to 1% of Pakistan's gross domestic product. Financial inefficiency and inaccurate estimates of credit requisites contributed to this staggering load of bad debt. These problems have caused interest rates to rise, which in turn has destabilized the economy. Privatization has been proposed as a solution.

Banking industry, Economic aspects

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