A new Finance Minister is unlikely despite growing pressure from political parties and call from independent economists as former Prime Minister Nawaz Sharif wants Ishaq Dar to stay in the Ministry. Sources in the Finance Ministry told Business Recorder that prior to Finance Minister Ishaq Dar's return from London on 24 September 2017 with Prime Minister Shahid Khaqan Abbasi, Miftah Ismail was being seriously considered as a replacement. However after his return Ismail is no longer being considered for the position and Ahsan Iqbal has visibly become more active in matters relating to finance.

Iqbal has attended the World Bank/IMF annual meeting in DC and he is also engaged in defending and/or expressing concern over any criticism of the state of the Pakistan economy. Opposition parties have been urging the government to replace Dar as he is reportedly in a deep "depression" and unable to give the focus needed to an economy that is facing many challenges.

Senate parliamentary Committee on Finance led by Salim Mandviwalla has repeatedly requested the government to replace Dar given the serious allegations against him and the deteriorating economic situation of the country. Background interaction with officials reveals that there is a growing concern in the Finance Division about the overall state of the economy with particular concern over the widening external account deficit.

Copyright Business Recorder, 2017