ISLAMABAD: Prime Minister Imran Khan re-designated him as Special Assistant to PM on Finance and Revenues with the status of Minister of State with immediate effect.
According to sources, it was earlier reported that the newly-appointed Finance Minister Shaukat Tarin was expected to bring changes in the ministry with the purpose to bring a professional technocrat with the responsibility to run the IMF program in a more effective manner.
Earlier, Dr Waqar Masood was serving as Special Assistant to PM on Revenues only.
However, the government issued a fresh notification and re-designated Dr Waqar Masood as Special Assistant to the PM on Finance and Revenues.
Now, Dr Waqar Masood Khan has been brought in with the portfolio of SAPM on Finance and Revenues with the mandate to run the IMF program in such a way where Pakistan can re-negotiate conditions with the IMF under the $6 billion Extended Fund Facility (EFF).
Now the backdoor discussions will kick-start and its outcome can only be reflective in the upcoming budget for 2021-22.
However, Pakistani authorities will try to convince the IMF to reduce the hike in the electricity tariff and fix the FBR’s target, keeping in view the ground realities.
According to a notification issued by the Cabinet Division, in terms of rule 4 (6) of the Rules of Business 1973, the prime minister has been pleased to re-designate Dr Waqar Masood Khan, the Special Assistant to Prime Minister on Revenues, as Special Assistant to PM on Finance and Revenues with the status of Minister of State with immediate effect.
Top official sources said Dr Waqar Masood was not appointed as the secretary-general finance because he would be touching the age of 65 years in January 2022, so the government decided to re-designate his existing portfolio by adding finance into it.
Now more changes are expected in the Ministry of Finance, before or after the announcement of the budget.
