Shaukat Tarin appointed as advisor to PM on finance

Govt decides to get Tarin elected as senator from KP

By: News Desk
Published: 11:51 AM, 18 Oct, 2021
Advisor to PM on Finance
Caption: File photo.
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Shaukat Tarin who completed his six-month-long tenure as federal finance minister yesterday (Sunday) has been appointed as Advisor to PM on Finance by the government, reported 24NewsHD TV channel.

The cabinet division on Monday issued a notification announcing Mr Tarin’s appointment as prime minister’s Advisor on Finance.

The government wanted to elect Shaukat Tarin as a member of the Parliament within the stipulated timeframe of six months but it failed to do so. 

Mr Tarin’s predecessor Abdul Hafeez Shaikh was removed from the office of finance minister by Prime Minister Imran Khan when he had failed to control the inflation in the country. The premier then tasked Mr Tarin to take reigns of the finance ministry and adopt measures that could contain inflation. 

But his six-month-long tenure as finance minister was marred by a storm of unprecedented inflation. The prices of almost daily-use items, besides rates of utilities including petrol, electricity and gas are going through the roof. 

Also Read: US dollar shoots up to historic high against Pakistani rupee at Rs172.10

Mr Tarin is currently engaged in salvaging the extended loan facility of the International Monetary Fund for Pakistan. 

The fresh round of talks between Pakistan and the International Monetary Fund for the release of $1 billion loan tranche and a good economic certificate to the nation remained inconclusive.

The talks held from October 4 to 15 failed to reach a policy-level agreement because of differences over the macroeconomic framework and uncertainty over the future of Pakistan's economy.

Mr Tarin who led the Pakistani delegation into the talks with IMF Managing Director Kristalina Georgieva could not succeed in persuading the IMF chief regarding the economic steps taken by the Pakistani government.

According to sources, the IMF team wanted the Pakistani government to introduce more taxes. The Fund team had already shot down Tarin’s proposal of not withdrawing the subsidies, the sources added.

Both sides, however, agreed to continue the talks regarding the revival of the loan programme.

Govt decides to get Shaukat Tarin elected as Senator from KP

The federal government has decided to get Advisor to Prime Minister on Finance Shaukat Tarin elected as a senator from Khyber Pakhtunkhwa (KP), reported 24NewsHD TV channel on Monday.

Quoting sources, the channel reported that for that purpose, Pakistan Tehreek-i-Insaf (PTI) might ask Senator Faisal Javed, also a close associate of Prime Minister Imran Khan, to resign from his post in order to create a vacancy for Tarin. 

Senator Javed, on the other hand, had been offered the slot of special assistant to prime minister, they said, and added that the final decision, however, rested with the PM.  

Sources elaborated that adviser to the PM would contest the election on a general seat.

24News has further learnt that the government is also contemplating asking PTI senators from KP, who are due to retire in 2024, to give their resignations now.

Earlier on Monday, Shaukat Tarin who had completed his six-month-long tenure as federal finance minister on (Sunday, October 17),  was appointed as Advisor to PM on Finance by the government.

The cabinet division on Monday issued a notification announcing Mr Tarin’s appointment as prime minister’s Advisor on Finance.

The government wanted to elect Shaukat Tarin as a member of the Parliament within the stipulated timeframe of six months but it failed to do so. 

Reporter Usman Khan