PML-N Ishaq Dar was sworn in as a senator after returning to Pakistan from London, where he had lived in self-imposed exile for five years. He will take the oath of office as a federal minister today (Wednesday) at 10 am. Dar will be sworn in at Aiwan-e-Sadar by President Arif Alvi.
When an accountability court revoked his arrest order last week, Ishaq Dar, who had been duly elected to the Senate from Punjab, had been absent from the nation since October 2017.
After a meeting in London between PML-N leader Nawaz Sharif and Prime Minister Shehbaz Sharif, it was decided that Dar would receive the finance ministry post. The PML-N leader Miftah Ismail handed Prime Minister Shehbaz his letter of resignation on Tuesday, resigning from his role as finance minister.
Dar asks God to fix the economy
I’ve returned to my home nation by God’s grace. As soon as I land in Pakistan, I’ll do all in my power to save Pakistan from the [economic] hurricane that is engulfing it, Dar had declared.
The new finance minister declared, “[We] rescued Pakistan out of an economic cyclone back in 1998 and 2013,” Dar has returned to “help” the government’s initiatives to resuscitate the cash-strapped economy by taking over the vital duties of the finance ministry.
Separately, Dar accused the hundi and hawala industries of intentionally keeping the rupee’s value down during a question-and-answer period during the Senate session. He added that these activities cannot hold the local currency hostage.
Dar asserted that one of the issues the nation is dealing with is the artificial devaluation of the rupee, claiming that the US dollar has appreciated by almost Rs 10 against the rupee since he arrived.