Dar all set to replace Ismail as finance minister

ISLAMABAD: PAKISTAN Muslim League-nawaz (PML-N) leader Ishaq Dar is all set to take over as the finance minister on his return from London next week.

He will replace Mitah Ismail. All hurdles in Dar’s return stand removed. An accountability court has suspended an outstanding arrest warrant against Dar, who has been living in London in self-exile for the past five years.

Accountability Court Judge Mohammad Bashir issued a suspension order for a perpetual warrant of arrest against Dar, which was issued on Dec.11, 2017, ater the PML-N leader had gone abroad to avert proceedings in an assets-beyond-means case. The warrants were suspended until Oct.7, giving the senator-elect a fortnight to surrender to the law.

Dar must now appear before the court to seek cancellation of his warrant. The judge, however, also has the power to recall the warrant. If the judge exercises this power, Dar will no longer need to seek bail but will be required to join trial proceedings and mark his atendance on every date of hearing until the court exempts him from personal appearance.

The court’s decision has given credence to speculation that Dar is returning to the country to take over as finance minister from the beleaguered Ismail. The change of command will come at a time when the country faces one of its worst economic crises, worsened by an unprecedented devaluation of the currency.

The timing of the court’s decision is significant as the six-month constitutional tenure of the incumbent finance minister ends on Oct.18. Since Ismail is not an elected member of parliament, he cannot hold office as a federal minister beyond that date.

Dar, who had secured a seat in the March 2018 Senate election while siting in London, has yet to take oath as a member of the upper house of parliament. Earlier this year, Senate Chairman Sadiq Sanjrani had rejected a request to allow him to take the oath via video link.

Dar’s counsel, Misbahul Hassan Qazi, argued before the court that his client now intended to join the trial and surrender before the court. Turning down his request to withdraw the arrest warrant, the judge suspended it instead, saying that the court might reconsider once Dar makes good on his promise.

A five-judge bench of the Supreme Court had, on July 28, 2017, disqualified then prime minister Nawaz Sharif for not disclosing an undrawn salary from his son’s company and constituted a joint investigation team (JIT) headed by then additional director general of the Federal Investigation Agency, Wajid Zia, to probe the assets of the Sharif family and Dar.