Islamabad: Just weeks before the announcement of the federal budget for the fiscal year 2023-24, the federal government Thursday carried out a big shuffle in its finance team and replaced the finance secretary.
According to a notification, the government transferred Finance Secretary Hamed Yaqoob Sheikh and replaced him with Imdadullah Bosal, a BS-22 officer of the Pakistan Administrative Service (PAS).
The timing of the shuffle is important to be noted as the cash-strapped country has been in talks with the International Monetary Fund (IMF) for nearly five months for the revival of the Extended Fund Facility (EFF) program. Pakistan is trying everything at its disposal to appease the Fund to release the ninth review under the plan, which approximates $1.16 billion.
Media reports suggest that Hamed Yaqoob Sheikh had requested the government in writing for granting him leave but the government was reluctant to accept his request ahead of the upcoming budget for 2023-24, which is expected to be unveiled on June 9, 2023.
‘Economy cannot sustain another shock’, says PTI
The former ruling party — the Pakistan Tehreeke-e-Insaf (PTI) — questioned the timing of the transfer and asked the federal government to “clear the air around the IMF program”.
Former federal minister Hammad Azhar wrote on Twitter, “The finance secretary’s sudden change today, just before the budget, is alarming.”
He said that there was a “danger” that Finance Minister Ishaq Dar would “mess up with the budget just like Miftah did last year”.
“The economy cannot sustain another shock,” he wrote.
