ISLAMABAD: The government is expected to remove Finance Minister Asad Umar over his ‘unsatisfactory performance’, ARY News reported on Wednesday citing sources.
Sources told ARY News that the government has started mulling on new names for the finance minister with former State Bank of Pakistan governor, Shamshad Akhtar, being considered as the likely replacement.
Prime Minister Imran Khan, a few days ago, had also hinted at changing ministers who fail to perform up to the expectations.
Speaking to ARY News, senior anchor Arif Hameed Bhatti said a businessmen delegation met PM Khan and expressed their reservation over Umar’s performance as finance minister.
It is pertinent to note here that the the PTI website had described Asad Umar’s performance in the first 100 days in office as encouraging.
According to the website: “Our words are not enough to explain the attributes this legend [Asad Umar] holds. With great power, comes great responsibilities and that’s exactly what Asad Umar took upon himself when he was sworn in as the Minister of Finance and Revenue. At the time when Pakistan’s economy was an all-time low, this iron-nerved man accepted the job where challenges like dwindling forex reserves, immediate load payments, record current deficit and gigantic balance of payment crisis, miserable economic conditions of state-owned enterprises are a few to name.”
It further says: “Fighting against all odds, Asad Umar and team has successfully managed to minimize the balance of payment crisis, brought tax reforms, introduced incentives for export industry, increased remittance and cut down on unnecessary imports. The hard work has already started to pay off as a decrease in trade deficit can be observed along with a significant increase in exports and numerous job opportunities has sprung up because of the revival of textile industry. If this is what we get from him within 100 days, wait and see where he’ll take the country in the next 5 year!”
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