The news broke on Sunday during a crucial PML-N meeting in London presided by by party leader and former prime minister Nawaz Sharif.
The meeting was attended by Malik Muhammad Ahmad Khan, Miftah, Ishaq Dar, Marriyum Aurangzeb, and Prime Minister Shehbaz Sharif.
The gathering included a thorough discussion of the nation’s general political situation.
Miftah informed the PML-N supreme leader of his resignation and stated that the party had given him the ministry. In the meeting, Miftah said, “I worked to the best of my ability for four months and stayed loyal to the party and the country,” according to a PML-N release.
Nawaz commended Miftah for her efforts in carrying out her duties despite the “difficult economic challenges.”
Dar was proposed as the nation’s new finance minister during the meeting between Prime Minister Shehbaz and party leader Nawaz.
The meeting’s attendees believed that the current administration needed to “put out the fire of economic calamity” left by the previous PTI-led administration.
Later in the day, the information minister tweeted, “I have seen how hard you [Miftah] have fought day and night to save Pakistan from default and to escape the economic disaster produced by Imran Khan.”
You merit praise from the entire country, but especially from PML-N, she continued.
Ahsan Iqbal, the federal minister of planning and development, praised Miftah’s work as well.
“You [Miftah] served in really difficult conditions. You sacrificed your reputation to save default. Your contributions will be kept in mind, he tweeted.
Dar, a candidate for the Senate, traveled to the UK in October 2017 when he was on trial for corruption. On condition of anonymity, a source close to the Sharif family informed The Express Tribune that Dar’s two key goals from PML-N leader Nawaz are to lower inflation and the dollar-rupee parity.
The party required a financial czar with Dar’s credentials, he said, but there were some legal obstacles that needed to be cleared first.
According to the insider, Miftah also boasted to the leadership that he could lead the nation out of the economic tangle that the party had discovered it to be trapped in.
In light of these commitments, Miftah had asked Nawaz for permission to temporarily increase fuel prices, promising him that doing so would allay IMF fears.
The insider revealed that Miftah did not keep his promises, continued to make excuses, and asked for more time to resolve the financial crisis.
The lack of any indications of a better tomorrow, he continued, “frustrated the party leadership more than the difficulty of the task of restoring the economy.
According to the insider, Dar’s performance would determine the future of the party as well as his own reputation, which had been damaged over the years.
As far as he was aware, Dar would first take the oath of office for his Senate seat before being sworn in as the finance minister.
Dar becoming a senator or finance minister, he continued, is unimportant at this moment because he has already begun preparing for the enormous task at hand.
Dar would assume responsibility upon his return, whether or not he had formally assumed control of the office.