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Monday, May 20 2013
Europe Needs A Federal Reserve
AS the world economy teeters again, pressure is mounting on central banks to reopen their spigots, make it even cheaper for companies and households to borrow money, and prop up commercial banks to prevent another financial crisis. On Wednesday, the Federal ...
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Pakistan passes political test with little fuss: Dawn

IANS

ISLAMABAD DESPITE drama worthy of a political thriller, the system managed to elect a new prime minister with relatively little fuss. But the choice may be an “unwise one” because Raja Pervaiz Ashraf, an ex-power minister, was blamed for much of the country’s electricity woes, a leading Pakistani daily said on Saturday. “No assemblies were dissolved and no constitution violated, at least not by the khakis (army), who stayed inside their barracks this time,” the Dawn said. Noting the judiciary has sent home the then elected prime minister Yousuf Raza Gilani, the daily said it was a reminder the Pakistani democracy still treads on dangerous ground.

The Supreme Court had disqualified Gilani from office for contempt of court after he refused to open graft cases against President Asif Ali Zardari. However, the maturity shown by the political parties after these events should be a reason for celebration for Pakistani democrats.

Be that as it may, the nomination of Ashraf was also a snub to millions of citizens who are suffering hours of loadshedding in the Pakistani summer, Dawn said.

To prove itself worthy of reelection, the party now needs to reorder its priorities and take some immediate and concrete action on the governance front.


PM Ashraf takes oath with 38 cabinet members
8 killed in Quetta laundry attack
US working with new govt
Economic growth 3.2% in 2011-12, says top bank

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