X users weigh in on crucial appointment after Aurangzeb takes charge of finance

Some hopeful about finance chief's 'corporate' background, others think Pakistan requires 'an economist'

The most-awaited appointment - after the premier - has been announced, and serves as a fresh break from tradition for the PML-N-led government. The country's new finance czar is a career banker, and the internet has something to say about this appointment.

The former HBL CEO and Wharton graduate's appointment was widely expected, suggesting a shift in the PML-N's approach, as it was rumoured that the party would not continue with four-time finance czar Ishaq Dar at the helm of economic affairs.

Aurangzeb's appointment comes amid a debilitating economic crisis and the need for Pakistan to secure a crucial IMF programme, which will be of utmost priority for the new finance chief.

A former Citi banker, Aurangzeb has also served in JP Morgan’s Global Corporate Bank based in Singapore and at ABN AMRO in Amsterdam. He has tons of experience under his belt. However, some users still found his gleaming “corporate” background to be insufficient to meet the challenges that lay ahead.

While some were hopeful of the finance chief's gleaming "corporate" background, others thought Pakistan required "an economist" to turn around the country's crippling economy.

Does he have any experience in Public Finance ? I doubt it a commercial banker is not a good choice for state finances Shamshad Akther would be far better choice !

— Aviator2013 (@Aviator2013) March 6, 2024

 

Muhammad Auran­gzeb, current CEO of HBL, is definitely a credible name, with an excellent track record in banking.

If he has to lead the finance ministry of a country, which has no money to repay its debts, he must be fully empowered and taken as Federal Minister rather than a…

— Asad Ali Shah (@Asad_Ashah) March 6, 2024

 

 

MBAs are not economists. Manmohan Singh who set India on the path to Economic prosperity is an economist. Let us rise above blind party loyalties. pic.twitter.com/TFDwEvAOlU

— Fuad Khan (@fuadikhan) March 6, 2024

 

Bankers have never been able to manage economy well. Shaukat Aziz, Shaukat Tarin its a long list.

— zakriya pk (@zakriya_pk) March 6, 2024

Not all were gushing though on the choice of the appointment, or anybody’s for that matter. Users expressed hopelessness with the system, declaring it had “no mercy for the poor”.

I’m delighted it’s not Ishaq, but so long as he doesn’t go into MOFA because I’ve never seen more of a car crash interview with him than BBC hardtalk. A native speaker of the English language would be great, if we can manage to find one.

Miftah Saab also went to Wharton. And…

— Ali (@TheBigAL999) March 5, 2024

Some were highly appreciative of the appointment, while others were willing to wait out how the finance chief's tenure pans out.

Muhammad Aurangzeb is more than a banker. He has held senior global management positions with top banks of the world. At these positions, understanding of the economic conditions play a key role in the success of your job.

He is an MBA from Wharton, one of the top ranked… https://t.co/5rrGgHvTzC

— Najam Ali (@NajamAli2020) March 5, 2024

 

@NajamAli2020 Oh undoubtedly he is an extremely high profiled banker but only concern I would have is that he is not an economist and I think that’s what Pakistan needs - Especially now.

— Kiran Ahmed (@kiranahmedd) March 5, 2024