- Appointment on an immediate basis comes after Tarin's tenure as finance minister ended on Saturday
In an expected move, the federal government appointed Shaukat Tarin as Advisor to the Prime Minister on Finance and Revenue, stated a notification issued on Monday.
Earlier, Business Recorder reported that Tarin is likely to be appointed as Adviser to Prime Minister on Finance, following the expiry of his constitutionally mandated term of six months as Minister.
“In exercise of the powers conferred by Clause (1) of Article 93 of the Constitution of the Islamic Republic of Pakistan, the President on the advice of the Prime Minister, has been pleased to appoint, with immediate effect, Mr Shaukat Fayaz Ahmed Tarin as Advisor to the Prime Minister on Finance and Revenue, with the status of Federal Minister,” read the notification from the Cabinet Secretariat.
As an adviser, Tarin would no longer be able to preside or attend Economic Coordination Committee (ECC) meetings, the highest economic decision-making body in the country, Cabinet Committee on Privatization Commission (CCoP), or cabinet meetings.
Tarin was appointed by the PM as Finance Minister in place of Hammad Azhar on April 16 and his six-month term began the next day, April 17, when he was sworn in.
Tarin is currently on a visit to the United States to attend the International Monetary Fund (IMF)/World Bank annual meetings (11-17 October) and hold policy-level talks on the pending review of the Extended Fund Facility (EFF).
Meanwhile, the ministry of finance refuted media reports about failure of the talks with the IMF, and clarified that they would resume on Monday uninterrupted. The spokesman further stated that there is no deadline for the talks to end, adding that the dialogue with the IMF would continue till "success".
The statement follows reports earlier that suggested talks with the IMF had not yet reached a "successful outcome".