Pakistan’s Finance Minister Ishaq Dar is one of the names being considered by the ruling Pakistan Muslim League-Nawaz (PML-N) party for the post of caretaker prime minister after Shehbaz Sharif announced his resignation earlier this month, according to local media reports.
PTI quoted sources in the local media as saying that the PML-N is considering proposing Dar’s name as caretaker prime minister as part of a plan to ensure implementation of economic policies and speed up the process of receiving foreign investment in state-owned entities.
A final decision on Dar’s candidature will be taken next week in consultation with the PML-N’s ally, the Pakistan Peoples Party (PPP), which is one of the two main coalition parties. Former Finance Minister of Pakistan Hafeez Sheikh’s name is also doing the rounds for the post of Caretaker PM.
The reports come after current Prime Minister Shehbaz Sharif announced that his government would transfer power to an interim authority in August to steer it through general elections.
“Our government will complete its term next month. We hope to leave before the end of the term and a new interim government will take over.”
Meanwhile, PML-N sources said the government is considering changes to Pakistan’s Election Act 2017 to enable the acting authority to take economic decisions in an effort to revive the country’s economy. The amendments are likely to be tabled in the National Assembly next week.
The caretaker government has the power to take decisions related to everyday, non-controversial and urgent matters. The government’s effort to introduce the amendment is aimed at enabling the interim authority to take major policy decisions with respect to the national economy.
Sources in the PML-N reportedly called continuity of the current economic team crucial for the implementation of all financial measures.
Significantly, cash-strapped Pakistan has received a major relief as the International Monetary Fund (IMF) has given final approval to a “stand-by arrangement” of $3 billion earlier this month to support the government’s efforts to bring the country back from a complete economic collapse.
Talks between the international money lender and Pakistan stalled in December last year after Pakistan delayed the release of a crucial $1.1 billion tranche from the bailout.
Read this also | Election Commission of Pakistan announces tentative dates for general elections as PM prepares to hand over power
Read this also | Pakistan will get another caretaker government after Shehbaz Sharif announced his resignation. Which governments are there?