Pakistan Poll Results Delayed as Imran Khan’s Party Claims Win in First Results

Bloomberg:  Vote-counting delays following Pakistan’s election on Thursday pointed to a disputed result as supporters of jailed former leader Imran Khan and three-time premier Nawaz Sharif claimed victories, raising the prospect of instability in the country.

As of 11:57 a.m. in Pakistan on Friday, election authorities had announced the results of 57 of 265 National Assembly seats up for grabs. The parties of Sharif and the powerful Bhutto clan were neck-and-neck with the independent candidates, most of whom are backed by Khan’s party after it was effectively banned from contesting in the elections.

While the outcome is far from certain, the delay raises the potential of a disputed result that could generate street protests. It also creates uncertainty over who will form a government in a nuclear-armed nation that has the fastest inflation in Asia, tension with its neighbors and relies on aid from the International Monetary Fund.

Pakistan Election Remains Tight as Results Pick Up Pace: TOPLive

Pakistan’s benchmark KSE-100 Index slid almost 4% before paring about half of its losses as stock investors reacted to the uncertainty surrounding the election results.

“Any controversy around election results will lead to political instability and in turn may make it very difficult for the next government to negotiate and implement the next IMF program,” said Abid Qaiyum Suleri, executive director of the Sustainable Development Policy Institute, an independent think tank based in Islamabad. “If the political instability persists after elections, the government will be on a very weak pitch to take required reforms.”