Asad Umar steps down as Finance Minister

Asad Umar
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.

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.

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