Raja Furqan Ahmed

Islamabad : The Cabinet Division on Tuesday issued the notifications of the removal of Dr Abdul Hafeez Shaikh and the appointment of Hammad Azhar as Finance Minister. “In exercise of the powers conferred by clause (3) of Article 92 of the Constitution of the Islamic Republic of Pakistan, the President, on the advice of the Prime Minister, has been pleased to approve the removal of Dr Abdul Hafeez Shaikh as Federal Minister, with immediate effect,” read the notification. “In term of rule 3(4) of the Rule of Business, 1973, the Prime Minister has been pleased to assign, the additional portfolio of Finance and Revenue to Mr Muhammad Hammaz Azhar, Federal Minister for Industries and Production, with immediate effect,” the second notification stated. Azhar has been given an additional portfolio of this ministry. He will still also be the federal minister for industries and production. Prime Minister Imran Khan on Monday decided to remove Finance Minister Dr Abdul Hafeez Shaikh as Finance Minister due to his “failure” to check rising inflation. Hammad Azhar will be the third finance minister to be appointed since the Pakistan Tehrik-e-Insaf (PTI) came to power following the 2018 general elections. Reacting to his appointment, Azhar said in his tweet: “I am honoured to be entrusted with the additional charge of Finance by the Prime Minister.” “Pakistan’s economy has made significant gains towards stabilisation since 2018. We shall continue to consolidate these gains and strengthen the growth momentum,” he added.