Massive reshuffle of economic team on cards as Dar spells priorities

ISLAMABAD: Federal Minister for Finance and Revenue Ishaq Dar on Wednesday decided to bring in his economic team and “blue eyed” officials to the Finance ministry, Federal Board of Revenue and other attach departments of the ministry as he spelled priorities after assuming charge as Finance Minister.

Sources privy to the development said that major changes will be made in important positions in the FBR and the finance ministry, while special assistant to the finance minister will also be reshuffled.

Sources said that Ishaq Dar will bring his “blue eyed” officials to the Finance ministry, Federal Board of Revenue and other attach departments of the ministry. Chairman FBR Asim Ahmad is likely to be removed and there are chances that former Chairman FBR Tariq Pasha gets this slot.

Sources also said that Ishaq Dar does not want any close aide of the PM as finance minister so he will not only change the State minister for Finance Dr Aisha Ghaus Pasha and Secretary Finance Hamid Yaqoob Sheikh.

The Incumbent State minister Dr Aisha Ghaus Pasha is likely to get Economic Affairs charge. Similarly, Special Secretary Finance Awais Sumra is likely to assume the Secretary Finance slot.

He had served with Ishaq Dar as a staff officer back in 2014 and recently, he was the key player in negotiations with the IMF as well. In addition, Ishaq Dar will bring in a new team to the Securities Exchange Commission of Pakistan.

The finance ministry has shortlisted eight to ten people for three positions of SECP’ commissioners. Sources said that former Chairman SECP Zafar Hejazi close aides will get important positions in SECP in Dar’ tenure.

Sources said that the Finance minister will also appoint a new President National Bank of Pakistan as there is no Permanent President NBP.

The finance ministry last month gave extension to acting president NBP Hasni till the appointment of a regular incumbent. Sources also claim that the Finance minister will also remove one to two deputy Governor SBP.


Earlier today, Ishaq Dar took oath as Finance Minister amid economic crisis in the country.

According to detail, Dar returned to country nearly after five years on Monday and later took oath as member of the upper house of the parliament on Tuesday.

Dar, known for his preference for a stronger currency, had led the finance ministry three times in the past. During his last stint as finance chief from 2013 to 2017, he managed to keep the rupee stable. It was the most stable currency in Asia from 2014 to 2017, according to data compiled by Bloomberg.


Talking to the media persons in Islamabad on Wednesday, Ishaq Dar said stabilizing local currency and reducing inflation and interest rates are priorities of the government. He said we do not believe in mere verbal claims rather history is testimony of our economic performance.

Ishaq Dar expressed satisfaction over the appreciation of rupee over the last two days saying this has reduced our loans.

The Federal Minister said the country is currently faced with worst economic crisis because of mismanagement of previous government of PTI. He said it was because of the efforts of former Finance Minister Miftah Ismail that the country averted default. He however said that the mess left behind the PTI government could not be cleared in six months.

Ishaq Dar regretted that the PTI government during its last days in office violated the international agreements to take political mileage. As regards the case against him, Ishaq Dar said it is a fake. He said he has been a consistent taxpayer over the last 34 years and that he never delayed his tax returns. He said the previous government also cancelled his passport and it was the current coalition government which issued him a passport.




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