World News | Renowned Banker Muhammad Aurangzeb Likely to Be Appointed Pakistan's Finance Minister: Report
Get latest articles and stories on World at LatestLY. Renowned banker Muhammad Aurangzeb will become cash-strapped Pakistan's finance minister as newly-elected Prime Minister Shehbaz Sharif is all set to appoint his federal cabinet, a media report said on Tuesday.
Islamabad, Mar 5 (PTI) Renowned banker Muhammad Aurangzeb will become cash-strapped Pakistan's finance minister as newly-elected Prime Minister Shehbaz Sharif is all set to appoint his federal cabinet, a media report said on Tuesday.
Aurangzeb is the President and CEO of Karachi-based Habib Bank Limited (HBL).
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Before this responsibility, Aurangzeb was the CEO of JP Morgan's Global Corporate Bank based in Asia, with a rich international banking experience of over 30 years.
Ishaq Dar, a former finance minister and a close aide of Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif, is out of the race owing to health issues, Geo News quoted a source as saying.
Dar might be given another important post, the report said.
During the previous Pakistan Democratic Movement government, Dar faced an uphill task in reviving the stalled International Monetary Fund (IMF) programme.
Meanwhile, sources also said that the government's first choice for finance minister was Sultan Alanna, the chairman of Habib Bank Limited (HBL), due to his vast experience in finance and economy.
However, he could not commit due to his international work commitments.
Allana has been credited in the past for conceptualising Roshan Digital Account and the behind-the-scenes project management required to get Pakistan out of the FATF Grey list.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)