PM names 4th finance minister in 2 years in cabinet shake-up
The government appointed Shaukat Tarin as its fourth finance minister in two years on Friday, part of a shake-up of the government’s economic team as it enters a key period of budget-making and implementation of IMF reforms.
Tarin, a former banker, held the finance minister’s portfolio for about a year in a previous government led by the Pakistan People’s Party (PPP), now in opposition.
His predecessor, Hammad Azhar, had been in the role for less than three weeks.
Prime Minister Imran Khan also shuffled other key economyrelated ministries, his office said, including the economic affairs and power portfolios.
Tarin takes on the job as just weeks before the annual budget is due, with economists saying Pakistan is likely to record its biggest ever deficit as a result of uncertain government policies aggravated by coronavirus pandemic.
The third wave of Covid-19 currently sweeping through the country will create additional uncertainty in areas such as revenue collection, making the budget estimates more difficult.
Tarin has served as the finance minister in former prime minister Yousaf Raza Gilani’s cabinet from 2009-2010.
Former energy minister Omar Ayub has been made the minister for economic affairs. Former information minister Shibli Faraz, who was replaced by Fawad Chaudhry a day earlier, has been made the minister for
science and technology — the office previously held by Chaudhry.
Khusro Bakhtiar has been made the minister for industries and production in place of Azhar.
Last month, Prime Minister Imran Khan had removed then finance minister Dr Abdul Hafeez Shaikh and given the portfolio to Minister for Industries Hammad Azhar as an additional charge.
The cabinet reshuffle has come amid reports that Prime Minister Khan was unhappy with some ministers’ performance. —