AIRLINK 75.60 Increased By ▲ 0.35 (0.47%)
BOP 5.13 Increased By ▲ 0.02 (0.39%)
CNERGY 4.52 Decreased By ▼ -0.08 (-1.74%)
DFML 34.69 Increased By ▲ 2.16 (6.64%)
DGKC 90.42 Increased By ▲ 0.07 (0.08%)
FCCL 22.94 Decreased By ▼ -0.04 (-0.17%)
FFBL 33.27 Decreased By ▼ -0.30 (-0.89%)
FFL 9.97 Decreased By ▼ -0.07 (-0.7%)
GGL 11.20 Increased By ▲ 0.15 (1.36%)
HBL 115.38 Increased By ▲ 0.48 (0.42%)
HUBC 136.49 Decreased By ▼ -0.85 (-0.62%)
HUMNL 10.15 Increased By ▲ 0.62 (6.51%)
KEL 4.67 Increased By ▲ 0.01 (0.21%)
KOSM 4.74 Increased By ▲ 0.04 (0.85%)
MLCF 40.36 Decreased By ▼ -0.18 (-0.44%)
OGDC 140.70 Increased By ▲ 0.95 (0.68%)
PAEL 27.61 Decreased By ▼ -0.04 (-0.14%)
PIAA 25.15 Increased By ▲ 0.75 (3.07%)
PIBTL 6.83 Decreased By ▼ -0.09 (-1.3%)
PPL 124.25 Decreased By ▼ -1.05 (-0.84%)
PRL 27.46 Decreased By ▼ -0.09 (-0.33%)
PTC 14.12 Decreased By ▼ -0.03 (-0.21%)
SEARL 62.70 Increased By ▲ 0.85 (1.37%)
SNGP 72.50 Decreased By ▼ -0.48 (-0.66%)
SSGC 10.53 Decreased By ▼ -0.06 (-0.57%)
TELE 8.75 Decreased By ▼ -0.03 (-0.34%)
TPLP 11.52 Decreased By ▼ -0.21 (-1.79%)
TRG 66.46 Decreased By ▼ -0.14 (-0.21%)
UNITY 25.84 Increased By ▲ 0.69 (2.74%)
WTL 1.41 Decreased By ▼ -0.03 (-2.08%)
BR100 7,844 Increased By 40.9 (0.52%)
BR30 25,807 Decreased By -8.9 (-0.03%)
KSE100 74,802 Increased By 270.9 (0.36%)
KSE30 24,088 Increased By 133.7 (0.56%)
Pakistan

Ishaq Dar takes oath as Senator ahead of becoming new finance minister

  • Senate Chairman Sadiq Sanjrani administers oath amid loud chants by opposition
Published September 27, 2022

Former and incoming finance minister Ishaq Dar on Tuesday took oath as a senator under the administration of Senate Chairman Sadiq Sanjrani, amid protest from the Pakistan Tehreek-e-Insaf (PTI)

In the oath, Dar pledged to practice his duties with honesty and transparency. After the oath, Sanjrani welcomed Dar as a member of the senate. Dar is now set to take oath as finance minister of Pakistan.

Earlier on Tuesday, Miftah Ismail handed in his resignation from the position of finance minister to Prime Minister Shehbaz Sharif.

Stage set for Dar: Miftah Ismail hands in written resignation

During the senate session, PTI members said that there were many pending cases on Dar while law minister Azam Nazir Tarar pointed out that in 2018, there were pending cases on Arif Alvi as well who assumed the position of President of Pakistan.

PTI leader Shehzad Wasim said that the country is becoming the property of a single family, adding that “the person who ruined this economy in the past has been made incharge of it once again.”

Dar arrived in Pakistan on Monday with hopes of stabilising and strengthening the rupee. He told the media that he would like to pick up the economy where he left it during his 2017 tenure in the same job.

Dar will be taking the finance minister office for the fourth time, this time with the challenge of getting the economy out of one of its worst balance of payment crises that has seen foreign reserves falling to a month of imports.

“Prime Minister Shehbaz Sharif has asked me to accept the responsibilities of finance minister,” Dar had said in a statement broadcast on state television on Monday evening.

“By the grace of God, I will try my best to get Pakistan out of this economic rut.”

Economy has been falling, will be trying to change its direction: Ishaq Dar

“God is sending me back to the same office,” he said, referring to the finance ministry he quit after he flew to London in 2017 for medical check-ups amid pending corruption cases, which he says were politically motivated.

His arrest warrants have been suspended by an anti-graft court until October 7, making his return to Pakistan possible.

The IMF board last month approved the seventh and eighth reviews of a bailout programme, allowing for a release of over $1.1 billion.

On Tuesday, the Pakistani rupee appreciated for the third successive session to close at Rs233.91 against the US dollar, bolstered by Dar’s arrival to the country.

Dar has favoured a strong currency in his previous tenures as finance minister — from 1998 to 1999, then in 2008 and again from 2013 to 2017.

Comments

Comments are closed.