Former Pak finance minister Dar to end exile, return from London to resurrect cash-strapped economy

In order to facilitate Prime Minister Shehbaz Sharif's efforts to resurrect the cash-strapped economy, Pakistan's former finance minister Ishaq Dar is set to return to the country this week as per local media.

According to media report by Geo News, Dar will take over the key portfolio of finance after ending his current exile in London.

It further stated that Shehbaz made the decision to call him back after his meeting with PML-N supremo Nawaz Sharif in London recently.

During the meeting, they both also discussed seeking debt relief from bilateral creditors in the wake of devastating floods.

After the Financial Times said a United Nations development agency was urging the cash-strapped country to restructure its debt, Pakistan's bonds slumped to just half their face value throughout the day.

Geo News reported that Nawaz had called for a change in the direction of economic policies as he had not been happy with the economic policies of current finance minister Miftah Ismail.

Citing a source close to PML-N, Geo News reported that Nawaz was worried that the rise in prices of commodities had directly affected ordinary people which has impacted the support base of the party.

The source, who was privy to the meeting between the Sharif brothers, said that PTI Chief Imran Khan's long march will be dealt with by all legal means.

The Pakistani government will not tolerate any pressure from the PTI and the next general elections will be held on time, claimed the source.

Dar’s return to Pakistan has become possible after an accountability court in Islamabad on Friday suspended the arrest warrant against him in corruption case in which he is a proclaimed offender.

(With inputs from agencies)

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