ISLAMABAD: Shaukat Tarin was sworn in as Federal Minister for Finance on Monday after becoming senator from Khyber-Pakhtunkhwa on a seat vacated by Senator Afridi.

President Dr Arif Alvi administered the oath to him at a ceremony held at the Aiwan-e-Sadr, which was attended by federal and provincial ministers, the State Bank of Pakistan’s Governor Reza Baqir and other senior government officers.

Subsequently, a notification of the Cabinet Division read that in exercise of the powers the president, on the advice of the prime minister, has been pleased to appoint Shaukat Fayaz Ahmed Tarin as federal minister with immediate effect.

He will hold the portfolio of Finance and Revenue as allocated by the prime minister in terms of rule of the Rules of Business, 1973.

The notification further read that consequent upon the above appointment, Tarin shall cease to hold the office of Adviser to the Prime Minister on Finance and Revenue.

Tarin was appointed as the finance minister on April 17, after removal of his predecessor Hafeez Shaikh as he lost election as senator and portfolio of finance minister was assigned to Hammad Azhar for a brief period.

On October 16, 2021 Shaukat Tarin’s constitutional term of six-month that allows the prime minister to appoint any unelected member as his finance minister expired when Tarin was in Washington for attending the annual meeting of the World Bank and the International Monetary Fund (IMF) and holding policy level talks on the pending review of the Extended Fund Facility (EFF).

Copyright Business Recorder, 2021