Dar’s return on the cards

New federal cabinet likely to be announced on Thursday

ISLAMABAD:

The process of deliberation over the new federal cabinet is in full swing, with expectations high that it will be finalised by Thursday.

Insiders suggested that the senior leadership of the Pakistan Muslim League-Nawaz (PML-N) will play a crucial role in shaping the cabinet with a potential return of Ishaq Dar as the finance minister on the cards.

Meanwhile, Sardar Muhammad Yousuf is likely to take charge of religious affairs. Anusha Rahman is reportedly in line for the IT portfolio, Ataullah Tarar for information minister, Ahsan Iqbal for either interior minister or planning, and Khawaja Asif for the defence ministry.

In case Ishaq Dar assumes a different role, a private bank chief might be appointed as the finance advisor.

Prime Minister Shehbaz Sharif has extended invitations to PML-N and allied parties for a dinner engagement.

Read more: PM Shehbaz announces relief package for calamity-hit Gwadar

According to insider information, the dinner, hosted by the newly-elected premier, is scheduled for Thursday at the Prime Minister House.

However, PML-N leader Ataullah Tarar has clarified that the formal announcement of the federal cabinet is yet to be made, and no decisions regarding ministerial portfolios have been confirmed.

It's worth noting that the Pakistan Peoples Party (PPP), a key ally in the coalition government, has already expressed opposition to the potential reappointment of Ishaq Dar as the finance minister.

Similarly, analysts draw attention to Shehbaz's previous term as premier in the PDM government, where Dar's appointment as finance minister was considered one of the administration's worst mistakes.

Shehbaz had initially appointed Miftah Ismail as finance czar to revive a stalled International Monetary Fund (IMF) program. However, five months into the role, Shehbaz replaced Ismail with Dar, a relative and four-time finance minister known for his assertive approach to managing the rupee-dollar exchange rate.

Ismail later accused Dar of undermining him to secure the coveted ministry.

The exchange rate experienced volatility in 2022-23, with the new finance minister publicly accusing the IMF of pursuing a political agenda.

As Ishaq Dar emerges as a contender for the finance minister's position once again, experts caution Shehbaz against repeating the mistake, warning that such a move could be "disastrous" for his second term as prime minister.