AIRLINK 74.30 Increased By ▲ 0.01 (0.01%)
BOP 4.95 No Change ▼ 0.00 (0%)
CNERGY 4.38 Increased By ▲ 0.01 (0.23%)
DFML 38.90 Increased By ▲ 0.10 (0.26%)
DGKC 85.30 Increased By ▲ 0.48 (0.57%)
FCCL 21.20 Decreased By ▼ -0.01 (-0.05%)
FFBL 33.75 Decreased By ▼ -0.37 (-1.08%)
FFL 9.69 Decreased By ▼ -0.01 (-0.1%)
GGL 10.42 No Change ▼ 0.00 (0%)
HBL 113.05 Increased By ▲ 0.05 (0.04%)
HUBC 136.80 Increased By ▲ 0.60 (0.44%)
HUMNL 11.85 Decreased By ▼ -0.05 (-0.42%)
KEL 4.75 Increased By ▲ 0.04 (0.85%)
KOSM 4.43 Decreased By ▼ -0.01 (-0.23%)
MLCF 37.75 Increased By ▲ 0.10 (0.27%)
OGDC 138.00 Increased By ▲ 1.80 (1.32%)
PAEL 25.25 Increased By ▲ 0.15 (0.6%)
PIAA 20.19 Increased By ▲ 0.95 (4.94%)
PIBTL 6.66 Decreased By ▼ -0.05 (-0.75%)
PPL 122.35 Increased By ▲ 0.25 (0.2%)
PRL 26.80 Increased By ▲ 0.15 (0.56%)
PTC 13.87 Decreased By ▼ -0.06 (-0.43%)
SEARL 57.45 Increased By ▲ 0.23 (0.4%)
SNGP 67.25 Decreased By ▼ -0.35 (-0.52%)
SSGC 10.35 Increased By ▲ 0.10 (0.98%)
TELE 8.33 Decreased By ▼ -0.07 (-0.83%)
TPLP 11.18 Increased By ▲ 0.05 (0.45%)
TRG 63.29 Increased By ▲ 0.48 (0.76%)
UNITY 26.60 Increased By ▲ 0.10 (0.38%)
WTL 1.45 Increased By ▲ 0.10 (7.41%)
BR100 7,819 Increased By 8.8 (0.11%)
BR30 25,266 Increased By 115.8 (0.46%)
KSE100 75,009 Increased By 51.8 (0.07%)
KSE30 24,104 Increased By 21.1 (0.09%)

ISLAMABAD: Shaukat Tarin Saturday sworn in as Finance Minister in the oath-taking ceremony administered by President Arif Alvi.

Shibli Faraz also took oath as Federal Minister for Science and Technology.

Tarin replaced Hammad Azhar who remained Finance Minister for less than three weeks. He has been assigned the portfolio of Power and Petroleum Division as Federal Minister for Energy.

Last month, Prime Minister Imran Khan had replaced Abdul Hafeez Shaikh with Azhar as Finance Minister.

The PM appointed Tarin as Finance Minister for a period of six months in exercise of powers under Article 91 (9) of the Constitution of Pakistan.

Keeping in view that Tarin is not a member of Parliament, he would be required to become a parliamentarian within the said six-month period in order to retain his ministerial portfolio. Otherwise, he would stand removed as finance minister.

Article 91 (9) reads, “A Minister who for any period of six consecutive months is not a member of the National Assembly shall, at the expiration of that period, cease to be a Minister and shall not before the dissolution of that Assembly be again appointed a Minister unless he is elected a member of that Assembly:

Provided that nothing contained in this clause shall apply to a Minister who is a member of the Senate.”

Under the same article, Shaikh was appointed as Finance Minister in December last year and he could continue till June this year before he was sent packing last month. Days before his removal, Shaikh lost all important Senate election, on March 3, on Islamabad’s General seat to Yousaf Raza Gillani from Pakistan People’s Party (PPP)— a development that dimmed Shaikh’s prospects to become a parliamentarian. Gillani has become the Leader of the Opposition in Senate after his failure to secure Chairman Senate slot against Sadiq Sanjrani.

As part of recent federal cabinet reshuffle by the PM, Khusro Bakhtyar has been appointed as Industries and Production Minister to replace Hammad Azhar who held this portfolio along with Finance Ministry.

Shibli Faraz has been appointed as Science and Technology Minister, replacing Fawad Chaudhry who has been appointed as Information and Broadcasting Minister, replacing Faraz.

Omar Ayub Khan has been appointed as Economic Affairs Minister, replacing Khusro Bakhtyar.

The Cabinet Division Saturday notified Shaukat Tarin as Federal Minister for Finance and Revenue, and Senator Shibli Faraz as Minister for Science and Technology, soon after the president administered oath to them.

The notification issued by the Cabinet Division read that in exercise of the powers conferred by clause (1) of Article 92 of the Constitution of the Islamic Republic of Pakistan, the president, on the advice of the prime minister, has been pleased to appoint Shaukat Fayaz Ahmed Tarin as Minister for Finance and Revenue and Senator Shibli Faraz Minister for Science and Technology.

They have been administered the oath of office of federal ministers by the president on Saturday.

In terms of rule 3(4) of the Rules of Business, 1973, the prime minister has also been pleased to allocate/re-allocate the portfolios to the federal ministers with immediate effect.

Omar Ayub Khan, Federal Minister Power Division has been reallocated Ministry of Economic Affairs Division (EAD), Hammad Azhar, Federal Minister for Industries and Production, has now been made Minister for Energy and Makhdoom Khusro Bakhtyar, Federal Minister for EAD, has been reallocated Ministry of Industries and Production.

Fawad Ahmed, Federal Minister for Science and Technology, has been given Ministry of Information and Broadcasting.

The notification further stated that consequent upon the above re-designation, Omar Ayub Khan and Hammad Azhar shall also cease to hold the additional portfolios of Petroleum Division, and, Finance and Revenue, respectively, with immediate effect.

Copyright Business Recorder, 2021

Comments

Comments are closed.