10 MArch 2024 – In a recent development in Pakistani politics, Pakistan Muslim League-Nawaz (PML-N), Leader Ishaq Dar, originally in the running for the Finance Ministry, is now set to become the Foreign Minister. The decision was finalized after consultations with Prime Minister Shehbaz Sharif and discussions with Nawaz Sharif, marking a strategic move within the federal cabinet.
As per reports, the ruling party is yet to finalize the candidate for the crucial Finance Ministry, a position that will play a pivotal role in negotiating a new bailout with the International Monetary Fund (IMF). Renowned bankers Muhammad Aurangzeb Khan and Shamshad Akhtar are potential candidates for advisers on finance and revenue.
With the current IMF agreement set to expire on April 11, the impending appointment for the Finance Ministry holds significant weight. The individual assuming this role must lead immediate efforts to navigate the country through the negotiations for a new IMF bailout.
Conclusion:
The reshuffling within the federal cabinet, with Ishaq Dar taking charge of the Foreign Ministry, sets the stage for key decisions in Pakistan’s economic and diplomatic landscape. The choice of the Finance Ministry remains a critical element in steering the country’s economic recovery, particularly in light of the upcoming negotiations with the IMF. The final composition of the federal cabinet will likely shape Pakistan’s policy direction and response to pressing economic challenges.
