Up until a few days ago it seemed that Ishaq Dar was out of the running for a record fifth term as the finance minister of Pakistan. Reliable reports have been made that even though Mr Dar was Nawaz Sharif’s pick for the top slot at Q-block, his appointment had been rejected by other stakeholders in the country.
Many suggestions were found floating around as to who would get the job instead. The caretaker finance minister and former governor of the State Bank, Dr Shamshad Akhtar, was tipped for the job in the interest of continuity. Other names from the private sector and from within the political class were also pitched. While there was little certainty as to who would get the job, it seemed that Dar’s familiar shadow over the finance ministry was finally about to budge.
But one can never really count Mr Dar out from the running. Over the past two days his name has once again been seen in contention for the finance ministry at least in public and media discourse. We have seen before that Senator Dar is an expert at spinning a narrative. Back in 2022 when Shehbaz Sharif first came to power he had Miftah Ismail by his side who valiantly negotiated with the IMF. Despite his efforts, the Good Senator seemed to care little for party camaraderie and very publicly undermined Miftah. From trends on social media to populist statements and lobbying within the party, Ishaq Dar made sure to find himself in the driving seat of the economy once again at the expense of the now estranged Miftah.
It would not be surprising if he were up to his old antics once again. Mr Dar clearly has sway within the PML-N leadership. Party leaders have gone so far as to say they may have to create the position of Deputy Prime Minister to satisfy Mr Dar. But whatever happens, Shehbaz Sharif cannot afford to make him finance minister again.
A very important negotiation with the IMF stands ahead for whoever becomes finance minister. Ishaq Dar has proven in the past that he does not have the temperament to deal with the fund. One would hope the prime minister announces a sensible cabinet at the earliest to put any possible machinations to rest.
