AGL 35.20 Decreased By ▼ -0.50 (-1.4%)
AIRLINK 123.23 Decreased By ▼ -10.27 (-7.69%)
BOP 5.04 Increased By ▲ 0.07 (1.41%)
CNERGY 3.91 Decreased By ▼ -0.12 (-2.98%)
DCL 8.15 Decreased By ▼ -0.27 (-3.21%)
DFML 44.22 Decreased By ▼ -3.18 (-6.71%)
DGKC 74.35 Decreased By ▼ -0.65 (-0.87%)
FCCL 24.47 Increased By ▲ 0.22 (0.91%)
FFBL 48.20 Increased By ▲ 2.20 (4.78%)
FFL 8.78 Decreased By ▼ -0.15 (-1.68%)
HUBC 145.85 Decreased By ▼ -8.25 (-5.35%)
HUMNL 10.85 Decreased By ▼ -0.15 (-1.36%)
KEL 4.00 Decreased By ▼ -0.06 (-1.48%)
KOSM 8.00 Decreased By ▼ -0.88 (-9.91%)
MLCF 32.80 Increased By ▲ 0.05 (0.15%)
NBP 57.15 Decreased By ▼ -0.65 (-1.12%)
OGDC 145.35 Increased By ▲ 2.55 (1.79%)
PAEL 25.75 Decreased By ▼ -0.26 (-1%)
PIBTL 5.76 Decreased By ▼ -0.16 (-2.7%)
PPL 116.80 Increased By ▲ 2.20 (1.92%)
PRL 24.00 Decreased By ▼ -0.15 (-0.62%)
PTC 11.05 Decreased By ▼ -0.42 (-3.66%)
SEARL 58.41 Increased By ▲ 0.41 (0.71%)
TELE 7.49 Decreased By ▼ -0.22 (-2.85%)
TOMCL 41.10 Decreased By ▼ -0.04 (-0.1%)
TPLP 8.31 Decreased By ▼ -0.36 (-4.15%)
TREET 15.20 Increased By ▲ 0.12 (0.8%)
TRG 55.20 Decreased By ▼ -4.70 (-7.85%)
UNITY 27.85 Decreased By ▼ -0.15 (-0.54%)
WTL 1.34 Decreased By ▼ -0.01 (-0.74%)
BR100 8,528 Increased By 68.1 (0.8%)
BR30 26,868 Decreased By -400.5 (-1.47%)
KSE100 81,459 Increased By 998 (1.24%)
KSE30 25,800 Increased By 331.7 (1.3%)

TOKYO: Japan’s Prime Minister Fumio Kishida said on Wednesday he would step down next month, succumbing to public disaffection over political scandals and rising living costs that marred his three-year term, and setting off a scramble to replace him.

“Politics cannot function without public trust,” he told a press conference to reveal his decision not to seek re-election as the leader of the ruling Liberal Democratic Party (LDP).

“I made this heavy decision thinking of the public, with the strong will to push political reform forward.” The LDP will hold a contest in September to replace him as president of the party, and, by extension, as prime minister.

Kishida’s ratings dipped after he took office in 2021 following revelations about the LDP’s ties to the controversial Unification Church.

His popularity took another hit when a slush fund of unrecorded political donations made at LDP fundraising events came to light.

He also faced public discontent as wages failed to keep pace with rising living costs as Japan finally shook off years of deflationary pressure.

“An LDP incumbent prime minister cannot run in the presidential race unless he’s assured of a victory,” said Koichi Nakano, a professor of political science at Sophia University. “It’s like the grand champion yokozunas of sumo. You don’t just win, but you need to win with grace.” His successor as LDP leader will face the task of restoring the public’s confidence in the party and tackle the rising cost of living, escalating geopolitical tensions with China, and the potential return of Donald Trump as US president next year.

Comments

Comments are closed.