Miftah Ismail quits, Ishaq Dar to take over as Pakistani finance minister

Pakistan’s Finance Minister Miftah Ismail (fourth left) shakes hand with former Prime Minister Nawaz Sharif (center) after submitting his resignation in London, UK, on September 25, 2022. (@SulemanSharif82/Twitter)
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Updated 26 September 2022
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Miftah Ismail quits, Ishaq Dar to take over as Pakistani finance minister

  • Miftah Ismail’s resignation comes as Pakistan grapples with a plethora of economic woes
  • The crisis is exacerbated by deadly floods that have cost Pakistan an estimated $30 billion

ISLAMABAD: Pakistan’s Finance Minister Miftah Ismail on Sunday said he would formally resign from the role, after Prime Minister Shehbaz Sharif decided to task his party’s financial wizard Ishaq Dar with the responsibility.

The announcement by Ismail comes at a time when Pakistan is grappling with a widening current account deficit, currency depreciation and a 47-year high inflation that hit 27.3 percent in August.

The economic crisis is exacerbated by deadly floods that have killed more than 1,600 people and affected 33 million others, with officials estimating nationwide losses at $30 billion.

Ismail said he “verbally resigned” from the post in a meeting with PM Sharif and his elder brother, Nawaz Sharif, three-time former prime minister, in London.

“I have verbally resigned as Finance Minister,” the Pakistani finance minister said on Twitter Sunday night.

“I will tender a formal resignation upon reaching Pakistan. It’s been an honor to serve twice as Finance Minister.”

Ismail and PM Sharif are expected to return to Pakistan early this week.

Dar, a finance minister in Nawaz’s cabinet and an influential figure in his Pakistan Muslim League-Nawaz (PML-N) party, has been in exile for five years.

He had left the country for the United Kingdom to seek medical treatment after the Supreme Court disqualified Nawaz in October 2017 for not declaring a small source of income. The court had ordered an investigation into Sharif, his children and Dar, who is also Nawaz’s former accountant.

Dar himself was disqualified from office by the Supreme Court in 2017. Months after leaving for London, Dar was charged in absentia by an anti-corruption court in Pakistan for amassing wealth beyond known sources of income.

The former finance tzar says the case against him was politically motivated.

Ismail is the fifth finance minister to be replaced in less than four years amid years of political and economic turbulence in the South Asian country.

The devastating floods that hit late last month have fanned fears that Pakistan would not meet its debts.

On Friday, Ismail reassured investors that the South Asian country would not seek any relief from commercial banks or Eurobond creditors, after PM Sharif requested wealthy countries for a “substantial debt relief.”


Qatar, Pakistan resolve to boost strategic, economic cooperation at Doha talks

Updated 24 February 2026
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Qatar, Pakistan resolve to boost strategic, economic cooperation at Doha talks

  • Both countries urge dialogue on Afghanistan amid renewed border tensions between Islamabad and Kabul
  • Discussions focus on bilateral trade and investment, energy, defense, manpower and labor and culture

ISLAMABAD: Pakistan and Qatar on Tuesday agreed to deepen their strategic and economic cooperation during high-level talks between Prime Minister Shehbaz Sharif and his Qatari counterpart Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Sharif’s office said.

Sharif visited Qatar along with a high-level delegation on the invitation of Qatari emir Sheikh Tamim bin Hamad Al Thani. The Pakistani premier also held meetings with Qatar’s trade and defense ministers to discuss cooperation in various domains.

The visit came at a time when Pakistan is seeking closer economic engagement with Gulf partners amid its broader push to stabilize the economy and attract investment, while maintaining security and defense cooperation with key regional states.

During their meeting in Doha, PM Sharif and Qatar’s Sheikh Mohammed discussed bilateral relations and exchanged views on regional and international developments, according to the Pakistan prime minister’s office.

“They reaffirmed the strong brotherly relations between Pakistan and Qatar and expressed satisfaction at the growing momentum in political, economic and institutional ties,” Sharif’s office said.

“Discussions focused on enhancing cooperation in the fields of trade and investment, energy, defense, manpower and labor and culture, with both sides stressing the importance of their task force to accelerate cooperation in all these areas.”

Pakistan and Qatar maintain strong trade and investment ties. In 2022, the office of Qatar’s emir said the Qatar Investment Authority planned to invest $3 billion in Pakistan, targeting sectors including transport, aviation, education, health, media, technology and labor.

Nearly 300,000 Pakistanis live and work in Qatar, according to Pakistan’s foreign office, with many employed in health, education, engineering and public services, as well as construction and transport. The two countries engage through forums such as the Bilateral Political Consultations and the Joint Ministerial Commission.

Sharif said he had productive discussions with Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, on how the two sides could transform their brotherly ties into mutually beneficial economic relationships. 

“We also took stock of the regional situation,” he said on X. “Pakistan and Qatar will continue to work together for peace and stability in the region and beyond.”

Prime Minister Shehbaz Sharif (second right) meets the Qatari Emir Qatar’s emir Sheikh Tamim bin Hamad Al Thani (left) in Doha, Qatar, on February 24, 2026. (PID)

DIALOGUE WITH AFGHANISTAN

Earlier, Sharif and Qatar’s Deputy PM Sheikh Saoud Al-Thani discussed the situation in Afghanistan and called for dialogue to support regional stability.

The meeting took place amid renewed tensions after Islamabad carried out airstrikes last week on what it described as Tehreek-e-Taliban Pakistan (TTP) targets inside Afghanistan. Kabul said the strikes killed civilians and vowed to respond to what it called a violation of its sovereignty.

“Regional developments were also discussed, in particular the situation in Iran and Afghanistan,” Sharif’s office said in a statement. “Both sides emphasized the importance of dialogue, de-escalation and collective efforts to promote peace and stability in the region.”

This was the second time in less than six months that Pakistan conducted airstrikes in Afghanistan. The last strikes triggered heavy, weeklong clashes between the neighbors along their border before Qatar and Turkiye mediated a ceasefire between them in Oct. last year.

Separately, Sharif held meetings with Qatar’s State Minister for Trade Dr. Ahmed bin Mohammed Al-Sayed and a delegation of the Qatar Businessmen Association (QBA), highlighting Pakistan’s investment-friendly reforms.

He invited QBA members to explore opportunities in infrastructure, logistics, energy, agriculture, technology and export-oriented manufacturing, his office said.