Pakistan in 2024

As 2024 draws to a close, Pakistan stands at a critical juncture – grappling with the shadows of its past while cautiously inching toward a more stable future. This has been a year defined by political turbulence, institutional shifts, and glimmers of economic recovery, with each development offering lessons for a nation yearning for unity and progress. The year began in chaos, with PTI founder Imran Khan embroiled in high-profile legal battles. From the cipher case to the Toshakhana and iddat controversies, his imprisonment dominated headlines. The Election Commission of Pakistan’s misinterpretation of a Supreme Court ruling, stripping the PTI of its bat symbol, added to the party’s woes. Yet, PTI defied the odds, securing a clear majority in Khyber Pakhtunkhwa and emerging as the largest party in the National Assembly after February’s elections. However, its refusal to form a coalition government deepened political divisions, paving the way for a PML-N–PPP alliance that saw Shehbaz Sharif return as prime minister and Maryam Nawaz make history as Punjab’s first female chief minister.

Meanwhile, former ISI chief Lieutenant General (r) Faiz Hameed’s arrest under the Pakistan Army Act was hailed by some as a milestone for military accountability, though others questioned its motives. Equally polarising was the 26th Amendment, introducing a fixed term for the chief justice of Pakistan. Justice Yahya Afridi’s elevation as CJP and the establishment of Pakistan’s first seven-member constitutional bench were historic, but concerns over judicial independence cast a shadow on these reforms. The government’s heavy-handed approach to internet governance – banning X (formerly Twitter), implementing a national firewall, and restricting VPNs – stifled dissent and economic opportunities alike. This authoritarian streak reflected the broader challenges of 2024: a year where political power plays often eclipsed the needs of the public. On the security front, terrorism exacted a heavy toll, with 1,566 incidents claiming 924 lives, primarily in Khyber Pakhtunkhwa and Balochistan. The KP government, under PTI’s Ali Amin Gandapur, seemed more invested in political theatrics than in countering the violence.

Yet amidst these challenges, 2024 offered a flicker of hope on the economic front. Pakistan’s financial team, under immense pressure, secured a $7 billion IMF bailout that stabilised the economy. Inflation dropped dramatically – from 29.2 per cent in November 2023 to 4.9 per cent a year later – enabling a cautious monetary easing cycle. The stock market surged, with the KSE-100 index gaining 78 per cent, making it the world’s second-best-performing market after Argentina. Current account surpluses and a crackdown on illegal remittance channels further bolstered economic confidence. However, these gains come with caveats. The exodus of skilled labour highlights a systemic failure to create domestic opportunities. Tax revenue shortfalls hint at potential inflationary pressures, while internet disruptions threaten to stifle the digital economy. The government must resist complacency and address these structural issues if it hopes to translate macroeconomic stability into tangible benefits for ordinary Pakistanis.

As 2025 approaches, Pakistan faces a stark choice: perpetuate the cycles of political myopia and institutional discord or embrace the path of dialogue and consensus. Senior PML-N leader Rana Sanaullah’s call for Nawaz Sharif, Imran Khan, and Asif Ali Zardari to come together is more than political posturing – it is a lifeline for a nation battered by crises. The way forward lies in setting aside partisan differences to tackle terrorism, economic instability, and the erosion of public trust in democratic institutions. This year has proven that resilience is not enough; Pakistan needs transformative leadership and a shared vision for the future. Let 2025 be the year dialogue triumphs over division, cooperation replaces conflict, and the promise of progress becomes a reality for all.