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Govt decides to replace Finance Minister Abdul Hafeez Shaikh with Hammad Azhar: sources

Govt decides to replace Finance Minister Abdul Hafeez Shaikh with Hammad Azhar: sources
March 29, 2021

ISLAMABAD (92 News) – The government has decided to remove Abdul Hafeez Shaikh as finance minister.

Sources said that Hammad Azhar would be assigned the portfolio of the finance minister. They said that the prime minister was very worried about the increasing inflation as Abdul Hafeez Shaikh failed in controlling it.

Abdul Hafeez Shaikh also heads the price control committee.

According to sources, only elected representatives can endorse the verdicts of the cabinet as per the verdict of the Islamabad High Court.

After the court verdict, Abdul Hafeez Shaikh was made the finance minister from the finance adviser. He was to be elected by the National Assembly or the Senate within six months after being made the finance minister. His tenure is ending on June 9.

The prime minister, the sources said, has decided to assign the portfolio to an elected representatives to hold talks with the International Monetary Fund as well as matters pertaining to the budget preparation. The sources added that Hammad Azhar is being made the finance minister for presenting the budget twice.

Meanwhile in a tweet, Hammad Azhar saud that Prime Minister Imran Khan had assigned him the additional charge of the finance minister. "Pakistan's economy has made significant gains towards stabilization since 2018. We shall continue to consolidate these gains and strengthen the growth momentum."

Senator Shibli Faraz said that matters will be finalized by tomorrow. "I hope Hammad Azhar will succeed in providing relief to the masses," he added.