AGL 34.48 Decreased By ▼ -0.72 (-2.05%)
AIRLINK 132.50 Increased By ▲ 9.27 (7.52%)
BOP 5.16 Increased By ▲ 0.12 (2.38%)
CNERGY 3.83 Decreased By ▼ -0.08 (-2.05%)
DCL 8.10 Decreased By ▼ -0.05 (-0.61%)
DFML 45.30 Increased By ▲ 1.08 (2.44%)
DGKC 75.90 Increased By ▲ 1.55 (2.08%)
FCCL 24.85 Increased By ▲ 0.38 (1.55%)
FFBL 44.18 Decreased By ▼ -4.02 (-8.34%)
FFL 8.80 Increased By ▲ 0.02 (0.23%)
HUBC 144.00 Decreased By ▼ -1.85 (-1.27%)
HUMNL 10.52 Decreased By ▼ -0.33 (-3.04%)
KEL 4.00 No Change ▼ 0.00 (0%)
KOSM 7.74 Decreased By ▼ -0.26 (-3.25%)
MLCF 33.25 Increased By ▲ 0.45 (1.37%)
NBP 56.50 Decreased By ▼ -0.65 (-1.14%)
OGDC 141.00 Decreased By ▼ -4.35 (-2.99%)
PAEL 25.70 Decreased By ▼ -0.05 (-0.19%)
PIBTL 5.74 Decreased By ▼ -0.02 (-0.35%)
PPL 112.74 Decreased By ▼ -4.06 (-3.48%)
PRL 24.08 Increased By ▲ 0.08 (0.33%)
PTC 11.19 Increased By ▲ 0.14 (1.27%)
SEARL 58.50 Increased By ▲ 0.09 (0.15%)
TELE 7.42 Decreased By ▼ -0.07 (-0.93%)
TOMCL 41.00 Decreased By ▼ -0.10 (-0.24%)
TPLP 8.23 Decreased By ▼ -0.08 (-0.96%)
TREET 15.14 Decreased By ▼ -0.06 (-0.39%)
TRG 56.10 Increased By ▲ 0.90 (1.63%)
UNITY 27.70 Decreased By ▼ -0.15 (-0.54%)
WTL 1.31 Decreased By ▼ -0.03 (-2.24%)
BR100 8,605 Increased By 33.2 (0.39%)
BR30 26,904 Decreased By -371.6 (-1.36%)
KSE100 82,074 Increased By 615.2 (0.76%)
KSE30 26,034 Increased By 234.5 (0.91%)

Mohamed-MursiCAIRO: President Mohamed Mursi now seems assured of pushing through Egypt's new, distinctly Islamist constitution - but by a margin slim enough to embolden his opponents in next year's parliamentary election.

 

That could be good news for Egypt's nascent democracy and its battered economy if it encourages political rivals to fight their battles at the ballot box rather than in the streets, where clashes have alarmed both investors and tourists.

 

Yet Mursi will have little respite as he braces for the unenviable task of winning public support for urgent economic policies to rein in a crushing budget deficit that are bound to be unpopular in a nation deeply divided by his actions.

 

"The results of the referendum do not put an end to this state of polarisation in Egyptian politics," said Mustapha Kamal Al-Sayyid, a professor of political science at Cairo University.

 

The Muslim Brotherhood's party, which propelled Mursi to power in a June election, said its unofficial tally for Saturday's first-round vote on a controversial constitution showed 57 percent of voters backed it, supporting liberal opposition arguments that many felt the document too partisan.

 

A second round of the vote now looks likely to go the same way on Saturday, as it will be held in districts with more Islamist sympathisers. But even if another, possibly bigger Yes vote pushes the constitution through, the poll on a national charter has underlined the political divisions that Egypt faces.

 

"This puts major hurdles before President Mursi because the economic measures he planned to introduce ... require a national consensus," said Sayyid, arguing that the Islamists, who have dominated other ballots this year and last, were losing ground.

 

Mursi's first attempt to implement tax increases, about a week before the vote, lasted only a few hours before he withdrew them amid howls of public anger, which his opponents exploited.

 

His prime minister has promised a "national dialogue" to explain the government's determination to protect the poor, but Mursi cannot wait long as the measures are seen as essential to securing a vital $4.8-billion International Monetary Fund loan; it was delayed by a month immediately after his policy U-turn.

Copyright Reuters, 2012
**

Comments

Comments are closed.