Dr Ishratul Ibad announces launching new party

• Dr Ibad says political, economic instability at "dangerous levels".
• He stresses that country needs strict accountability at this time.
• Current government has "less time", former Sindh governor says.

Former Sindh governor Dr Ishratul Ibad has announced the launching of a new party days after he confirmed that he would be reentering the political realm following a years-long hiatus.

Dr Ibad, a former leader of the Muttahida Qaumi Movement (MQM), has been staying in the United Arab Emirates (UAE) since relinquishing his post of Sindh governor in 2016.

In a statement, Dr Ibad, who served as the governor for 14 years, said he would ask MQM-Pakistan (MQM-P) leaders to join his political party and keep his differences with them aside.

The ex-Sindh governor said that the current government has "less time" — a notion that the ministers have declined, vowing to complete their five-year tenure.

BMI, a Fitch Solutions company, has also forecast Prime Minister Shehbaz Sharif-led coalition government may prove a house of cards in the next one-and-a-half years amid economic uncertainties.

Dr Ibad said that political and economic instability have reached "dangerous levels". He also noted that the security situation was also deteriorating.

"We need strict accountability against corruption to ensure economic prosperity," Dr Ibad added.

"If governance fails, the situation can move towards any direction. The country needs strict accountability at this time. Not only the corrupt elements, but also those who come down on merit should be held accountable," he added.