Names of Dr Ayesha Ghaus Pasha, Sartaj Aziz in consideration
ISLAMABAD: The ruling party Pakistan Muslim League – Nawaz has reportedly started a search for new finance minister after the decision of National Accountability Bureau (NAB) to file a reference against incumbent Finance Minister Ishaq Dar along with the Sharif family.
According to reliable sources, the party, keeping in view the overall economic situation and Dar’s focuses on personal cases, is seriously considering a new face in Ministry Of Finance And Revenue.
According to the sources, Chief Minister Punjab Shahbaz Sharif, who is active in party affairs after the disqualification of former Prime Minister Nawaz Sharif, is interested to give the important post to Finance Minister of Punjab Dr Ayesha Ghaus Pasha. Dr Pasha, the wife of Dr Hafiz Ahmed Pasha, being a PhD in commerce, has reportedly shown better performance in Punjab.
However, influential people in the party are also suggesting Sartaj Aziz replace Dar. Sartaj Aziz, former advisor to former Prime Minister Nawaz Sharif on Foreign Affairs and the incumbent deputy chairman of the Planning Commission, may resume next post as an adviser to PM on Finance.
Dar, who is now confined to finance division, having limited involvement in decision-making and economic affairs in the new cabinet of Prime Minister Shahid Khaqan Abbasi, may be allowed to focus on his cases at NAB.
“Though Ishaq Dar may not be willing to quit the office to keep an upper hand on the regulatory and financial institutions under his ministry, the party and government may not allow him to continue keeping the financial and economic situation and challenges,” said the sources.
“Not only the finance minister but reshuffling of the top brass in the ministry may also occur in the coming weeks,” they claimed.
“The incumbent finance minister has actually lost legitimacy after a reference being filed against him for having assets beyond known means of income with an acknowledged increase in wealth from Rs 9.1 million to over Rs 800 million between the years 2002 and 2008. His position could be more critical in case of reopening of Hudaibiya Paper Mills case,” experts said.
According to them, in the present difficult situation, the next program of raising $ 500 million to $ 1 billion by floating Eurobond in the international debt market will also be in jeopardy since such program has been the brainchild of Ishaq Dar. Both Eurobond and Sukuk programs were in pipeline to support the reducing foreign exchange reserves. Dar in October 2016, had also issued five-year Sukuk of $ 1 billion, which attracted $ 2.4 billion investment.
