The newly-appointed Finance Minister Hammad Azhar seems to a big fan of Prime Minister Imran Khan, even during the early days of the premier’s political career.
A notification for the appointment of Hammad Azhar as the new finance minister was issued by the Cabinet division Tuesday.
Azhar has been given an additional portfolio of this ministry. He will still also be the federal minister for industries and production.
Pakistan’s prime minister has sacked the country’s finance minister over his failure to control inflation. Imran Khan also decided to bring a major reshuffle in his cabinet as the government is struggling to revive the economy.
This is the third finance minister appointed by Prime Minister Imran Khan in the last two and half years. Hammad Azhar, the minister for industries, has been appointed as the new finance minister after incumbent Hafiz Shaikh was sacked by the premier. Shaikh, who has vast experience of working with international financial institutes and even previously served as finance minister, has been blamed for failing to control the inflation.
Pakistan’s economy has been struggling since Prime Minister Khan took charge in August 2018. Last year the country reported a negative economic growth while the forecast for the current fiscal year does not look promising either. The sluggish economic growth has led to unprecedented inflation, causing problems for the common people.