Facing heat over crumbling economy, Pakistan`s finance minister steps down

Facing heat over crumbling economy, Pakistan`s finance minister steps down

Facing heat over crumbling economy, Pakistan`s finance minister steps down

Umar acknowledged his successor would have to make "some hard decisions" to deal with economic challenges facing Pakistan.

Umar was removed as the finance minister on Thursday after facing mounting criticism in recent weeks over the state of Pakistan's economy. "There is no truth in reports regarding changes in posts of federal ministers".

It all started with Asad Umar, who announced his resignation in the afternoon, followed by dismissal of some ministers and re-allocation of portfolios of others. "Since this government has come the people of Pakistan have drowned in a tsunami of inflation".

The incumbent government is taking four names under consideration for the post of finance advisor as Pakistan Tehreek-e-Insaf (PTI) leader Asad Umar has made a decision to resign as Finance Minister, sources reported. "I refused to take the decisions that would have crushed the nation", Umar said without elaborating.

Umar tweeted Thursday, April 18, 2019 that Prime Minister Imran Khan offered him the energy portfolio in the Cabinet but he refused.

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Asad Umar had been fighting fire for several months now even as Pakistan's economy went from bad to worse to absolute tatters. "I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah (God willing) will make a naya (new) pakistan", he wrote. "In my meeting with him I convinced him to allow me to step down from the cabinet", Umar told reporters.

Addressing a press conference later in the day, the PTI leader explained that despite leaving the ministry he was "available to support PM's vision on naya Pakistan".

According to Umar, tough decisions were taken to overcome the economic crisis in the country and his replacement would be taking over a tough job.

Now, critics of Umar and the PTI government are saying that the finance minister had no choice but to resign because of his inabilities.

Finance Minister Umar said earlier this month that a mission of the International Monetary Fund would visit Islamabad soon after the spring meetings of the World Bank Group, which includes the International Monetary Fund, and an agreement should be signed by the end of this month.

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