Hammad Azhar, Governor SBP Discuss Financial Matters

Newly-appointed Finance Minister Hammad Azhar discussed financial affairs with Governor State Bank Raza Baqir in Islamabad here on Tuesday (today).

Governor State Bank of Pakistan, Dr. Reza Baqir calls on Federal Minister for Finance and Revenue, Muhammad Hammad Azhar at Finance Division, today. pic.twitter.com/Abqa1G6aoC

— Government of Pakistan (@GovtofPakistan) March 30, 2021

Minister for Industry and Production Hammad Azhar was appointed as the new finance minister on Monday after replacing Dr Hafeez Shaikh over “his poor performance due to rising inflation” in the country.

According to sources, Hamad Azhar is being made the finance minister in view of his double budget presentation.

The Prime Minister was worried about inflation while Abdul Hafeez Shaikh as Finance Minister failed to control inflation, sources added.

The second reason for removing Hafeez Shaikh is the order of the Islamabad High Court (IHC) that only elected representatives can head the cabinet committee.

Following the court’s decision, Hafeez Shaikh was promoted from Finance Adviser to Finance Minister and sworn in as Finance Minister on December 10.

The Prime Minister has also decided to give the pen to the elected representative for negotiations and budget with the IMF.

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Furthermore, taking to Twitter, Hammad Azhar wrote, “I am honoured to be entrusted with the additional charge of Finance by the Prime Minister. Pakistan’s economy has made significant gains towards stabilization since 2018. We shall continue to consolidate these gains and strengthen the growth momentum.”

He further added, “We navigated econ fallout of covid-19 fairly well. The world is witnessing supply chain disruptions and the rise in food prices. We shall endeavour to protect our people from these shocks. With hard work and integrity, we will InshAllah build Naya Pakistan under the leadership of PM Imran Khan.”

We navigated econ fallout of covid-19 fairly well. The world is witnessing supply chain disruptions & rise in food prices. We shall endeavour to protect our ppl from these shocks.

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With hard work & integrity, we will InshAllah build Naya Pakistan under leadership of @ImranKhanPTI

— Hammad Azhar (@Hammad_Azhar) March 29, 2021

Moreover, Prime Minister Imran Khan will also reshuffle the portfolios of several other federal ministers in the coming days after recovering from COVID-19.

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