Pakistan appoints new finance minister to 'devise pro-poor policies'

Hammad Azhar speaks as he presents the budget for the year 2019-20 at the National Assembly in Islamabad, Pakistan on June 11, 2019. (Photo courtesy: Pakistan National Assembly)
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Updated 30 March 2021
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Pakistan appoints new finance minister to 'devise pro-poor policies'

  • Hafeez Shaikh was sworn in as federal minister last December, now replaced by industries minister Hammad Azhar
  • Information minister says PM Khan had decided to appoint new finance team to check rising inflation

ISLAMABAD: The Pakistani government on Monday removed Dr. Abdul Hafeez Shaikh from the post of finance minister and replaced him with Minister for Industries and Production Hammad Azhar, information minister Shibli Faraz told local media, saying the new finance team would "devise pro-poor policies."

Shaikh, formerly the prime minister’s special advisor on finance, was sworn in as federal minister last December. His elevation as minister for six months came in light of an Islamabad High Court ruling that the formation of the Cabinet Committee on Privatization was illegal on the grounds that its head, Shaikh, was an unelected official.

Earlier this month, Shaikh lost an opportunity to get elected when he lost a key senate election to an opposition candidate, making it certain he would have to be removed. 

According to Faraz, Prime Minister Imran Khan had decided to bring in a new finance team in view of soaring inflation. 

Khan "gave the portfolio of finance to Hammad Azhar who is a young and able minister so that he devises policies according to the ground realities of Pakistan and the poor get relief,” Faraz told a local TV channel. 

He said he did not know about Shaikh’s future in the government, adding that more changes in the cabinet would be disclosed tomorrow.

The removal - the second of a finance minister in the 2-1/2 years of Khan’s tenure - comes amidst the restart of a $6 billion IMF bailout programme that had been suspended for one year over questions about fiscal and revenue reforms.

Cash-strapped Pakistan is also preparing to float Eurobonds worth around $2 billion to raise capital from international markets about two months before presenting a budget.

“There has been rising inflation, and the prime minister thinks that we need to bring in a fresh team which could devise pro-poor policies,” Faraz told another local channel. 

In a Twitter post later in the evening, Faraz said Shaikh should be appreciated for carrying out his job with “diligence and national fervor”:

 

 

Azhar took to Twitter to thank the PM for entrusting him with the new portfolio:

According to the Pakistani constitution, the prime minister is empowered to appoint an unelected individual as a minister for six months under Article 91(9). After six months, the individual will “cease to be a minister and shall not before the dissolution of that Assembly be again appointed a minister unless he is elected a member of that Assembly.”

Following Shaikh’s loss in senate polls, Lahore High Court Chief Justice Muhammad Qasim Khan had questioned how he could remain in office as an unelected member of the cabinet.

"In truly democratic countries, people voluntarily resign from public offices if [they are] not elected," the chief justice had observed while hearing a petition challenging the appointment of all advisers and special assistants to PM Khan.


Pakistan approves halal meat export policy, targets expansion in Muslim, global markets

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Pakistan approves halal meat export policy, targets expansion in Muslim, global markets

  • Pakistan’s total production of halal meat stands at six million metric tons annually, PM Office says
  • Pakistan exported meat such as beef, mutton and poultry worth $512 million in 2024, official data states

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday approved Pakistan’s halal meat export policy, directing authorities to draw up a three-year action plan aimed at targeting Muslim and global markets, his office said.

Pakistan has attempted in recent months to increase its halal meat exports to other Muslim countries, such as Malaysia. Both countries announced they had agreed to a $200 million halal meat trade quota during Sharif’s visit to the country in October. 

Sharif chaired a meeting on Thursday to review Pakistan’s halal meat export policy, in which officials informed him that Pakistan’s halal meat production stands at 6 million metric tons. Officials told the prime minister that after fulfilling local demand, a substantial quantity of the meat is available for export. 

“A coordinated and comprehensive strategy, developed in collaboration with all relevant federal ministries and provincial governments, is essential to secure a significant share for Pakistan in the halal meat markets of Muslim countries and worldwide,” the Prime Minister’s Office (PMO) quoted Sharif as saying. 

A 2024 report by the Pakistan Bureau of Statistics (PBS) said the country exported meat worth $512 million last year, which included beef, mutton and poultry.

The new export strategy outlines regulatory reforms, disease control measures and upgraded slaughterhouse standards that fulfill the global criteria. 

Sharif directed authorities to present a proposal within two weeks to improve cold storage facilities and halal meat production in accordance with global standards. He also called for the establishment of centers, in cooperation with the government, to enhance meat production and its nutritional value.

The prime minister assured that his government would provide support for international certification of local slaughterhouses and for their bilateral registration with other countries.

“Special steps will be taken to ensure slaughterhouses are disease-free and meet international hygiene and sanitation standards, the prime minister directed,” the PMO statement said. 

According to the PBS, the United Arab Emirates (UAE) remained Pakistan’s top meat export market in 2024 with exports to the Gulf nation reaching $201 million. Meanwhile, meat exports to Saudi Arabia recorded a growth of 65.1 percent last year at $141 million. 

Other major destinations for meat exports include Kuwait, Qatar, Uzbekistan, Vietnam and Kazakhstan, while China and Kyrgyzstan are among new markets where Pakistan exports meat.

Private Pakistani companies have also stepped up efforts recently to boost meat exports to Muslim countries and other nations. 

In September, Karachi-based private company, The Organic Meat Company Limited (TOMCL), secured a $7.5 million order to export cooked or heat-treated frozen boneless beef to China, followed by an $8.1 million contract with Gold Crest Trading FZE for frozen boneless beef exports to the UAE for industrial and household processing.

In November, TOMCL said it was targeting the Gulf Cooperation Council (GCC), Chinese, Canadian and Commonwealth of Independent States (CIS) markets to expand its global footprint.