Asad Umar steps down as Finance Minister

Asad Umar has stepped down as Finance Minister, after serving term for only 8 months. There were rumors after cabinet reshuffle since past few days and he was said to be offered Petroleum Ministry.

Earlier, he tweeted about the decision saying that the Prime Minister “desired” that he take the Energy Ministry portfolio instead of Finance.

As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance. However, I have obtained his consent to not take any cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah will make a naya pakistan

— Asad Umar (@Asad_Umar) April 18, 2019

He categorically stated that he is not interested in any cabinet position now.

Asad Umar was facing criticism of not handling the finance ministry properly. His tenure saw Pakistan getting into one of worst financial plunges of its history with Dollar going berserk against Rupee and inflation on all term high. Umar is also criticized about delaying the decision of going to IMF which severed the on-going financial crisis.

Asad Umar was apparently the first choice for Finance Ministry portfolio, long even before PTI won the elections. He was portrayed as the financial wizard who would magically resolve financial woes of Pakistan with his corporate background and young-CEO charms. Alas, he was not even given a year to prove his mantle.

For 8 years Imran khan presented Asad Umar as the answer to Pakistan’s economic woes… in 8 months, Imran khan is not satisfied with his own answer..

— Shahzeb Khanzada (@shazbkhanzdaGEO) April 18, 2019