There is an intimate relationship between political stability and economic prosperity in a country. Indeed, political stability is precursor to economic stability and development. Simi-larly, political instability is precursor to economic instability, abject poverty and social unrest. There are four broad contours of political instability: ( a) the propensity for regime or else government change, (b) the incidence of political upheaval and violence in the society and (c) instabilities in policies of the governments and (d) lack of good governance. Political insta-bility is regarded by economists as a serious malaise, harmful to the economic performance of a state.

Political instability in a state limits policymakers’ options for making stable and long-term economic policies. It compels economists to make sub-optimal short-term macroeco-nomic policies. It may also lead to a more frequent switch of policies, creating volatility and thus, negatively affecting macroeconomics. Pakistan is facing the malaise of political instabil-ity, among many other factors, in its fragile political system. Unfortunately, political polarization among political parties is rampant in the country.

This process further creates polarization in Parliament of Pakistan. The coalition governments of more than one political party always try to exploit the system in their favour. This hap-pened frequently from 2018 to 2023. Both governments did not perform politically as well as economically. Indeed, their political instability gave way to economic instability and social unrest in the........

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