Captain Imran Khan faces many challenges on Pakistan economy front

One of the structural problems a new government will need to fix is low tax compliance

A new government under Pakistan’s incoming leader Imran Khan will need to move quickly to tackle a brewing economic crisis.

The former cricket star’s party claimed victory in Wednesday’s election after preliminary results showed it had the most votes. Khan said in a televised address he’ll focus on improving the lives of the poor and fighting corruption. Stocks rallied on Thursday, with the KSE100 index gaining 1.8 per cent. The rupee was little changed at 129.125 against the dollar.

One of the first challenges he’ll need to tackle is easing a foreign-reserves crunch. The nation’s buffers have been steadily dwindling as a