ISLAMABAD: Esteemed banker Muhammad Aurangzeb is slated to assume the role of the federal finance minister, Geo News reported on Tuesday.
This development comes after earlier reports suggested that Senator Ishaq Dar would hold the position in the government led by Shehbaz Sharif.
Report indicates that Senator Ishaq Dar has withdrawn from the race for finance minister. Confidants of Prime Minister Shehbaz Sharif have confirmed that Muhammad Aurangzeb will indeed be appointed as the new finance minister. Aurangzeb was reportedly present at a recent meeting convened by Prime Minister Shehbaz Sharif following his assumption of office.
It’s been revealed that Muhammad Aurangzeb has also held discussions with PML-N leader Nawaz Sharif. Further consultations between Shehbaz Sharif and Nawaz Sharif regarding the cabinet are expected, after which Muhammad Aurangzeb’s appointment as finance minister is anticipated to be formally announced.
The report said that Ishaq Dar may be assigned another significant ministry in addition to the finance portfolio.
Who is Muhammad Aurangzeb?
Muhammad Aurangzeb, who currently serves as the President & CEO of HBL since April 30, 2018, boasts an impressive banking career spanning over five decades. Prior to his role at HBL, he held the position of CEO of JP Morgan’s Global Corporate Bank in Asia. He has held senior management roles at ABN AMRO and RBS in Amsterdam and Singapore. Aurangzeb is distinguished as the only Pakistani member of the exclusive Global CEO Council organized by WSJ/DowJones group. He also serves as Chairman of the Pakistan Banks’ Association and Council Member at the Institute of Bankers Pakistan. He obtained his BS and MBA degrees from the Wharton School (University of Pennsylvania).
