Political stability paramount to economic development, says Shehbaz.

LAHORE -- Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif has said that Pakistan's sustainable economic development is incumbent upon its political stability as both are mutually inclusive.

Cash-strapped Pakistan's $350 billion economy is in meltdown with low growth, a weak currency, and skyrocketing prices, with those with less incomes feeling the most pain.

Currently, a caretaker setup is at the helm of affairs with limited powers. It will stay in place till the country sees general elections, which is the interim government's primary responsibility. The polls are likely to be held by the end of January next year, according to the Election Commission of Pakistan (ECP).

In his address to traders in Lahore on Wednesday, Shehbaz - whose government's term ended in August - said: "When the traders' shop runs, it helps move Pakistan."

"If the economy is stable then development and prosperity will come with it. The country needs economic and political stability," the former prime minister added.

Reiterating his stance, the ex-premier claimed that his government's members decided to "compromise their political stake" to "save the state".

"We...