Nawaz Sharif sworn in as Pakistan prime minister

Nawaz Sharif was elected Pakistan's prime minister for a third time, making him the first-ever Pakistani politician to do so – an unprecedented development in Pakistan parliament's history.

President Asif Ali Zardari administered the oath of office to Nawaz Sharif at an impressive ceremony at President's House in Islamabad today.

Nawas Sharif, who heads the Pakistan Muslim League-Nawaz (PML-N), becomes the 27th prime minister of Pakistan.

Sharif's party trounced parties headed by President Asif Ali Zardari and former cricketer-turned-politician Imran Khan in the national elections held last month, winning 244 seats in the 342-member House.

Addressing parliamentarians, Sharif vowed to tackle Pakistan's ''jungle of problems.''

''The nation knows that our economy is in extremely poor condition,'' Sharif said, adding, ''We have little in financial resources. We have to pay back billions of rupees of debt. But I assure the nation that we will struggle to change the country's destiny.''

Sharif pledged to rid the nation of ''extremism, insecurity, corruption, poverty and dictatorship'' and strive for ''good governance, development, prosperity and respect within the international community.''

A former steel baron and one of Pakistan's wealthiest man, Sharif, 63, is widely seen as pro-business and a proponent of forging stronger economic ties with neighboring India.

Sharif's biggest challenge will be redefining Pakistan's relationship with the United States amidst rising anti-American sentiment without alienating Washington, which has channeled billions of dollars in aid to Pakistan.

''The drone attacks need to stop now. We respect the sovereignty of others, and expect others to also respect our sovereignty,'' he said, but did not detail the steps his administration would take.

Nawas Sharif had served as the country's prime minister from 1990 to 1993 and again from 1997 to 1999, when the then army chief GenPervez Musharraf ousted him from power. Sharif lived in exile in Saudi Arabia until he returned in 2007. His party won the Punjab provincial assembly elections in 2008 and garnered enough seats in parliament to become the main opposition rival to Zardari's party.