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Friday, November 22, 2024

Home Pakistan Muhammad Aurangzeb takes charge as Pakistan’s new Finance Minister

Muhammad Aurangzeb takes charge as Pakistan’s new Finance Minister

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Seasoned banker Muhammad Aurangzeb on Monday took over responsibility as Finance Minister of Pakistan.

The former CEO of HBL took charge as the country’s new finance czar hours after taking oath at the Presidency, Ministry of Finance said.

Upon his arrival at Finance Ministry, Aurangzeb was welcomed by Secretary Finance and senior officials of the ministry.

Muhammad Aurangzeb was picked for the coveted role to deal with the country’s financial matters amid challenges such as soaring debt, slow growth, and record inflation.

His appointment for the role is crucial as he will be leading negotiations with IMF next month.

Aurangzeb stepped down from the role of President and CEO of HBL to take charge as new finance chief. In his career, he served as CEO of JP Morgan’s Global Corporate Bank in Asia, holding decades of international banking experience in senior positions.