Well-placed sources told Business Recorder that final decision in this regard will be taken by former Prime Minister Nawaz Sharif, who is leaving for London in a couple of days as Dar is unlikely to return after court issued his non-bailable arrest warrants.
Rana Afzaal, who is currently working as Parliamentary Secretary for Finance has emerged as a potential candidate for the slot of State Minister for Finance. Well-placed sources privy to the development told Business Recorder that government has taken a decision in principle to remove Dar and appoint someone else to head the all important Finance Ministry. They said that if an advisory council comprising leading economic experts, the prime minister will keep the portfolio, given that he is already looking after the finance ministry after Dar's departure from the country through a circuitous route - first on government expense to Dushanbe and then privately to Saudi Arabia where Nawaz Sharif was resident at that time and then onwards to London.
Former finance minister Shaukat Tarin or the State Bank of Pakistan former governor Dr Ishrat Husain may be considered to chair the council, the sources said. Special Assistant to Prime Minister on Revenue Haroon Akhtar Khan and Special Assistant to Prime Minister on Economic Affairs Dr Miftah Ismail may be members of the council.
When contacted, Afzaal said: "I'll accept the offer as it will be a great honour for me," he added. To a question about Dar's resignation, he said that the finance minister has not yet submitted his resignation.
Prime Minister's spokesperson Musadik Malik issued a statement saying that in light of Ishaq Dar's health and his decision to seek treatment abroad, as per cabinet rules, the finance ministry portfolio has come under the Prime Minister's control. The spokesman added that the prime minister was taking regular briefings on matters of finance and was managing the portfolio efficiently.
Minister of State for Information and Broadcasting Marriyum Aurangzeb in a media talk said that Finance Minister Ishaq Dar has not resigned. "Reports of Dar's resignation are baseless and he alone will announce if and when he plans to resign". She added that the resignation is the prerogative of Prime Minister Shahid Khaqan Abbasi. "Demanding resignation from Dar is the prerogative of the prime minister," said the minister.
Copyright Business Recorder, 2017