Finance Minister Hafeez Shaikh is going to step down in two days, it is learnt reliably. According to insiders, Shaikh had to be elected as a senator to continue his role in the government.
Imran Khan, according to Faraz, made the decision to appoint a new financial team as a result of “the inflation that had taken place.”
After the PTI took office in 2018, Azhar was appointed as the third Finance Minister.
Prime Minister Imran Khan “gave the charge of finances to Muhammad Azhar whom is a younger and able ministerial so that he develops policies that reflect the actual circumstances in Pakistan and those in need get relief” , stated Faraz.
He said he didn’t know Sheikh’s future in the administration and that by tomorrow he would know whether there were any more likely changes to the cabinet.
Concerns regarding Hafeez Shaikh’s status in the federal cabinet were raised a few weeks after PPP candidate Yousuf Raza Gilani defeated Shaikh in the Senate contest. Since December of last year, Shaikh has been the minister.
Prior to being appointed finance minister in December of last year, Shaikh, who is not a member of Parliament, advised the premier on financial matters. However, Article 91 (9) of the Constitution states that he cannot hold the position of minister for more than six months unless he is elected to one of the houses. Consequently, it was crucial for
The government’s mishandling of the economy, according to the opposition, is to blame for the GDP falling to 0.4 percent from 5.8 percent during the PML-N government and the inflation rising to 14 percent from less than 4 percent.
The government had planned for the economy to grow by 2.3 percent in the fiscal year 2020–21, but the International Monetary Fund (IMF) has predicted that the GDP will only grow by 1.5 percent this year.
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