Shehbaz Sharif, selected as the Prime Minister of Pakistan on Monday, has doubtless succeeded to a depleted inheritance. Notably, the challenges are the daunting economic crisis, the fallout of the political turmoil over the past few months, deteriorating relations with Western powers, the Afghan factor, and the resurgence of militancy in certain parts of the country.

It is open to question whether the ruling coalition, that consists of disparate parties and groups, with often conflicting political and economic aims, will stick together until elections are called. They may have achieved their immediate objective of removing Imran Khan from power, but there is no indication yet of any long-term plan of governance.

The Pakistan Tehreek-i-Insaf has quit the National Assembly and pledged to exert pressure on the present dispensation for early elections. It is, therefore, unlikely to be smooth sailing for the Sharif dispensation.

Top priority ought to be given to fixing the torpid economy. The PTI had inherited a stuttering economy that it has left in far worse condition; ordinary people are grappling with double-digit inflation, as well as wage and job losses. There has been a decline too in macroeconomic indicators. The crisis of balance of payments is already back, after a short Covid-related respite, as the much-needed multilateral assistance is on hold because of uncertain political conditions.

Elevated international commodity prices, particularly food and crude oil, are putting additional pressure on a frail external sector. Improving the economy requires tough decisions, such as the immediate removal of the cap on electricity and petroleum prices and renegotiating a new loan with the IMF, which will be difficult without mending fences with the United States of America.

Fresh elections are not very far off, and Imran Khan’s PTI will be scrutinising and criticising every move of the new set-up. Populist announcements, such as a 10 per cent rise in pay and pensions of government employees and the provision of subsidised wheat flour, were made by Sharif in his address to the House, soon after his election as Prime Minister.

Given the political and economic realities on one side and high public expectations at another remove, the coalition government and its leader do not have too many options on the table as they get ready to deal with multiple crises. Yet a close look at Sharif’s presentation would suggest that he has somehow skirted the economic imperatives and internal issues. His address was instead riveted to Imran’s charge of a US “conspiracy”, even pledging to step down if there is a “shred of evidence”.

The entire country, he said, must know. On a parity of reasoning, the “entire country” is anxious to hear about his prescription to address the economic mess. Without dwelling on the domestic imperatives, the new Prime Minister raked up the Kashmir issue three years after the abrogation of Article 370. Much of what he said is old hat.