Finance Minister Miftah Ismail has stepped down from his position. The decision came after the party holds a high-level meeting of PML-N leaders in London including the party’s supremo, Nawaz Sharif. According to the party’s spokesperson, Miftah Ismail has tendered his resignation to the PML-N’s leader in line with the party’s decision and thanked him for giving him a chance to lead the ministry.
I Worked to the Best of my Abilities: Miftah Ismail
During the meeting, Miftah Ismail was quoted as saying; “I worked to the best of my ability for four months, and remained loyal to the party and the country.” Later Miftah tweeted about his resignation, saying; “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 honor to serve twice as Finance Minister. Pakistan Paindabad.”
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
Reportedly, the PML-N’s party leader was worried about the skyrocketing inflation and the flood situation that has affected millions of people and caused damage estimated at $30 billion, giving rise to fears that Pakistan would not meet its debts. As per sources, Nawaz was not happy with the economic policies of Miftah and had called for a change in the economic policies.
Also read: Finance Minister Miftah Ismail Gets Mocked for Not Knowing About Web 3.0
Ishaq Dar to Reportedly Fill the Vacant Seat
According to the reports published by the local news media, Ishaq Dar will replace Miftah Ismail as the finance minister. Earlier in the day, Interior Minister Rana Sanaullah said in a press conference in Lahore that Ishaq would return to the county in the coming week and facilitate the government’s economic team. A day ago, an accountability court suspended an outstanding arrest warrant against Dar, paving the way for the former finance minister’s return from London. Ahead of Dar’s return, the Pakistani rupee gained ground against the US dollar as trading for the week began on Monday. The PKR was being traded at Rs235.5 per dollar(10 am), which equates to an appreciation of 1.73 percent from Friday’s close of Rs239.65.
