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Hammad Azhar to replace Hafeez Sheikh as finance minister

The federal government has decided to remove Abdul Hafeez Sheikh from the post of finance minister. A notification in this regard is likely to be issued soon.

In this regard, sources said that Federal Minister for Industries and Production Hammad Azhar will be given the portfolio of Finance Minister. Sources said that Prime Minister Imran Khan has sent a message to Abdul Hafeez Sheikh.

Sources said that there is resentment among the federal ministries over the taxation and the State Bank of Pakistan’s (SBP) autonomy bill.

The move by the federal government came at a time when Abdul Hafeez Sheikh, the government’s candidate for the Islamabad general seat in the Senate elections, had lost to opposition candidate Yousuf Raza Gilani.

Sources said that Prime Minister Imran Khan during his meeting with Abdul Hafeez Sheikh had expressed full confidence in his abilities and asked him to continue his work.

During the meeting, Prime Minister Imran Khan acknowledged Abdul Hafeez Sheikh’s capabilities in improving the Pakistani economy.

It is pertinent to mention that during the reshuffle in the federal cabinet in 2019, Abdul Hafeez Sheikh was made an adviser to the Prime Minister after the resignation of the then Finance Minister Asad Umar.

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