Dar is leading the race to become Finance Minister
Under the incoming Shehbaz Sharif-led government, there are a number of formidable candidates vying to be the finance minister, with Ishaq Dar leading the pack.
Dar, a former finance minister, is once again regarded as PMLN supreme leader Nawaz Sharif’s top choice for this pivotal role at this important juncture, when Islamabad would be fighting to receive another bailout package from the IMF to avoid default.
Dr. Shamshad Akhter requests that her name be added to the list as well. She believes she has gained the respect of corporate executives, the business community, and the IMF. It remains to be seen, though, if she can gather the necessary political backing for the job. Shehbaz Sharif is also giving serious thought to Muhammad Aurangzeb, the current president of HBL and a seasoned banker. Aurangzeb is more important to Shehbaz than other banking personalities in Pakistan because of his keen awareness of the business and economic environment of the nation. This slot has also been discussed with Sultan Allana.
On April 30, 2018, Muhammad Aurangzeb became the president and CEO of HBL. Mr. Aurangzeb has over 30 years of experience in international banking, having held senior management positions at ABN AMRO and RBS, which are situated in Amsterdam and Singapore, before taking on this role at HBL. He was also the CEO of JP Morgan’s Global Corporate Bank, which is based in Asia.
Mr. Aurangzeb has been elected as the chairman of the Pakistan Banks’ Association and a director of the Pakistan Business Council. He is the only person from Pakistan to receive an invitation to the exclusive membership of the WSJ/DowJones group’s Global CEO Council. Mr. Aurangzeb graduated from the University of Pennsylvania’s The Wharton School with a BS and an MBA.
Salman Ahmed is the race’s dark horse. Salman Ahmed is regarded by Shehbaz Sharif as a reliable advisor on economic, financial, and tax issues in addition to being a potential minister of state for finance. Ahmed is a respected patriot with a remarkable history in business, having earned an MBA from Harvard and an MIT degree. His leadership position at Pakistan’s top global strategy firm, McKinsey, highlights his ability to assist governments and large enterprises in surmounting obstacles and formulating growth-oriented strategies. Ahmed is upbeat about Pakistan’s chances of implementing smart policies and growing its GDP at a rate of 8%.
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