ISLAMABAD: Following consultation with his elder brother Nawaz Sharif, Prime Minister (PM) Shehbaz Sharif finalised names for federal cabinet, with Ishaq Dar dropping out of race to become finance minister.
Sources said that Ishaq Dar, a close Sharif family’s associate and four-time finance minister, will be handed over the portfolio of foreign minister.
However, the ruling party is yet to finalise its finance minister, the person who has to lead an immediate effort to negotiate a new International Monetary Fund (IMF) bailout. Pakistan has a narrow path to recovery and the current IMF agreement expires on April 11.
According to sources, renowned banker Muhammad Aurangzeb Khan and Shamshad Akhtar are likely to become the advisers to prime minister on finance and revenue.
Akhtar has been a key part of the recent caretaker government that has been praised by the IMF for “decisive policy efforts” to maintain stability.
Furthermore, sources claimed that Khawaja Muhammad Asif will retain the charge of defence ministry. Ahsan Iqbal is in line for planning minister, Ataullah Tarar for information minister, Musadik Malik for energy ministry.
