Federal Minister for Industries Hammad Azhar has been appointed as the new Finance Minister here on Monday.
Prime Minister Imran Khan was unhappy with former Finance minister Hafeez Shaikh’s performance due to “rising inflation” across Pakistan and is replaced by Hammad Azhar.
Taking to Twitter, the minister 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.
With hard work & integrity, we will InshAllah build Naya Pakistan under leadership of @ImranKhanPTI
— Hammad Azhar (@Hammad_Azhar) March 29, 2021
Furthermore, Prime Minister Imran Khan will also reshuffle the portfolios of several other federal ministers in the coming days after recovering from COVID-19.
Hafeez Shaikh’s Defeat Against Gilani in Senate Elections:
Moreover, the decision regarding Shaikh’s replacement came after a major electoral battle, former Prime Minister and Opposition Leader Yousaf Raza Gilani had secured victory against PTI’s Dr. Abdul Hafeez Shaikh.
Gilani had gained 169 votes whereas Abdul Hafeez Shaikh could only gain 164 votes.
Back in 2019, Hafeez Shaikh had been appointed Advisor on Finance amidst the cabinet reshuffle, after Minister for Finance Asad Umar tendered in his resignation.