Miftah Ismail resigns as Finance Minister

ISLAMABAD: Finance Minister Miftah Ismail has informally tendered his resignation from the post, BOL News reported.

The decision was made during a meeting between PML-N supremo Nawaz Sharif and Prime Minister Shehbaz Sharif in London. PML-N leaders Ishaq Dar, Marriyum Aurangzeb, Tariq Fatemi, Ahad Cheema and others were also present. They deliberated on a wide range of political issues including the replacement of the finance minister.

During the meeting, Miftah Ismail submitted his resignation to Nawaz Sharif in line with the party’s decision and thanked him for giving him a chance to lead the ministry.

Miftah said that over the last four months, he performed his duties with diligence to the best of his abilities and remained loyal to his party as well as the country.

Nawaz Sharif accepted the decision and praised Miftah’s efforts in carrying out his responsibilities while the country was facing a severe economic crisis.

In a tweet, Miftah said he held a meeting with Nawaz Sharif and PM Shehbaz Sharif and “verbally” resigned as Finance Minister. Miftah said he will tender a formal resignation upon reaching Pakistan. He said it’s been an honor to serve twice as finance minister.

In a meeting with Mian Nawaz Sharif and PM Shehbaz Sharif today, I have verbally resigned as Finance Minister. I will tender a formal resignation upon reaching Pakistan. It’s been an honour to serve twice as Finance Minister. Pakistan Paindabad

— Miftah Ismail (@MiftahIsmail) September 25, 2022

The resignation comes as PML-N leader Ishaq Dar will be replacing Miftah as the finance minister. Miftah will also remain part of the government, however, it is unclear what portfolio will be handed over to him.

It has been decided that Ishaq Dar will be return to Pakistan along with Prime Minister Shehbaz Sharif. According to reports, he will take oath as finance minister on Tuesday, September 27.

During the meeting, Nawaz Sharif advised that Dar should return to Pakistan with the prime minister. Dar was expected to return on Wednesday September 28 and had also booked a flight on a foreign airline. However, it has now been decided that he will return with the prime minister.

Nawaz Sharif has expressed his immense displeasure over the economic policies of Miftah Ismail. He also raised concern over the rise in prices of commodities which has directly affected ordinary people and dented the party’s support base.

Earlier Interior Minister Rana Sanaullah said PML-N senior leader Ishaq Dar would return to the country in the coming week and further facilitate the government’s economic team.

It must be noted that the six-month tenure of Finance Minister Miftah Ismail is coming to an end on October 18. He must leave the post as he remains unelected and cannot hold office any longer.

An accountability court has suspended a permanent arrest warrant against Dar  issued on 11 December 2017 after he absconded from an assets beyond means case. The warrants were suspended until October 7 and Dar was given two weeks to surrender before the court. The decision raised speculation that Dar is returning to the country after spending over five years in self-exile.

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