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Hammad Azhar Twitter

This year we are seeing healthy growth in revenues: Hammad Azhar

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Hammad Azhar

New finance minister Hammad Azhar hopes for healthy growth in Pakistan’s economical revenues and is confident of achieving the targets.

Taking to his Twitter, Hammad wrote, “Pakistan’s economy will this year grow at a faster rate than earlier forecasts. Starting from next fiscal year, we will be targeting an even higher growth rate that may exceed 4% per annum. This growth will not be based on deficits or depleting reserves but will be sustainable.”

He further added that the government will continue to crackdown on tax evasion and treat tax broadening as a real priority and not just a cliche.

“This year we are seeing healthy growth in revenues & are confident of achieving our targets. Whilst we will continue to crackdown on tax evasion, we will treat tax broadening as a real priority and not just a cliche. Solid programs will be devised for this objective,” tweeted Azhar.

On the other hand, Federal Minister for Finance, Revenue, Industries and Production, Hammad Azhar, held a virtual meeting with Mr. Hartwig Schafer, Vice President South Asia Region, World Bank Group at the Finance Division today.

Minister reiterated that the government is fully committed to implementing structural reforms, protecting social spending and boosting social safety nets in order to protect the vulnerable segments of the society.

He appreciated the pivotal role being played by the World Bank in strengthening governance and service delivery through institutional reforms in Pakistan over the years.

Hammad Azhar Resumed Charge As New Finance Minister

Earlier, Minister for Industry and Production Hammad Azhar was appointed as the new finance minister on Monday after replacing Dr Hafeez Shaikh over “his poor performance due to rising inflation” in the country.

According to sources, Hamad Azhar was being made the finance minister in view of his double budget presentation.

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Global investors show great confidence in Pakistan’s economy, Hammad Azhar

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Hammad Azhar

Newly-appointed Finance Minister Hammad Azhar appreciated the interest shown by foreign investors in Pakistan’s economy. Taking to Twitter on Wednesday, he wrote that Pakistan very successfully concluded its first-ever three-tranche capital market transaction yesterday with five, ten, and thirty-year Eurobonds at six percent, 7.375, and 8.875 percent. He added that global investors have shown their … Read more

“Hafeez Shaikh carried out financial affairs With Full Efforts”: Shibli Faraz

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Hafeez Shaikh replaced as Finance Minister

After Hammad Azhar’s appointment as Finance Minister replacing Hafeez Shaikh, several political leaders extend congratulatory messages to him over his new position.

Whereas, other Opposition leaders termed Hafeez Shaikh’s replacement as a victory.

Chairman of the Pakistan Peoples Party Bilawal Bhutto Zardari said that the federal government move to sack the finance minister Hafeez Shaikh is the victory of the Pakistan Democratic Movement.

While took to Twitter Bilawal said, “PTIMF minister needed to be elected to continue in post & senate defeat made that impossible. Now government admits inflation is skyrocketing because of its failed policies. The parliamentary opposition has proven most effective vs this regime.”

Replying to Bilawal, Minister for Information Shibli Faraz in his tweet said that the former finance minister is a very sophisticated and hardworking man. As a financial advisor, he carried out government affairs with diligence and national spirit.

“Despite difficult circumstances, he contributed to the economic betterment of the country. We fully appreciate his efforts,” he added.

Note that, Federal Minister for Information and Broadcasting Shibli Faraz has said that Minister for Industry and Production Hamad Azhar has been given the portfolio of the Finance Ministry in place of Abdul Hafeez Shaikh.

According to sources, the Prime Minister was also worried about inflation while Abdul Hafeez Sheikh as Finance Minister failed to control inflation. He is also the head of the National Price Control Committee.

The second reason for removing Hafeez Shaikh is the order of the Islamabad High Court that only elected representatives can head the cabinet committee.

Following the court’s decision, Shaikh was promoted from Finance Adviser to Finance Minister, while Hafeez Sheikh was sworn in as Finance Minister on December 10.

Under the constitution, the minister was to be elected to the National Assembly or the Senate within six months. Hafeez Sheikh’s six-month term as finance minister will expire on June 9.

The Prime Minister has decided to give the pen to the elected representative for negotiations and budget with the IMF.

Sources said that Hamad Azhar is being made the finance minister in view of his double budget presentation.

The move by the federal government comes just weeks after the defeat of Abdul Hafeez Shaikh by joint PDM candidate Yousuf Raza Gilani in the March 3 Senate general election in Islamabad.

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Hammad Azhar’s Childhood Photo Makes Rounds On Internet

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Hammad Azhar

A childhood photo of newly appointed Finance Minister Hammad Azhar is making rounds on the internet.

The newly appointed Finance Minister can be seen sitting next to Prime Minister Imran Khan in his childhood photo.

According to the details, Prime Minister Imran Khan was unhappy with former Finance minister Hafeez Shaikh’s performance due to “rising inflation” across Pakistan.

Taking to Twitter, the minister wrote, “I am honoured to be entrusted with the additional charge of Finance by the Prime Minister. Pakistan’s economy has made significant gains towards stabilization since 2018. We shall continue to consolidate these gains and strengthen the growth momentum.”

He further added, “We navigated econ fallout of covid-19 fairly well. The world is witnessing supply chain disruptions and the rise in food prices. We shall endeavour to protect our people from these shocks. With hard work and integrity, we will InshAllah build Naya Pakistan under the leadership of PM Imran Khan.”

[embedpost slug=”we-shall-endeavour-to-protect-people-from-shocks-of-inflation-hammad-azhar/”]

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“We shall endeavour to protect people from shocks of inflation”: Hammad Azhar

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Hammad Azhar

Federal Minister for Industries Hammad Azhar has been appointed as the new Finance Minister here on Monday.

Prime Minister Imran Khan was unhappy with former Finance minister Hafeez Shaikh’s performance due to “rising inflation” across Pakistan and is replaced by Hammad Azhar.

Taking to Twitter, the minister wrote, “I am honoured to be entrusted with the additional charge of Finance by the Prime Minister. Pakistan’s economy has made significant gains towards stabilization since 2018. We shall continue to consolidate these gains and strengthen the growth momentum.”

He further added, “We navigated econ fallout of covid-19 fairly well. The world is witnessing supply chain disruptions and the rise in food prices. We shall endeavour to protect our people from these shocks. With hard work and integrity, we will InshAllah build Naya Pakistan under the leadership of PM Imran Khan.”

Furthermore, Prime Minister Imran Khan will also reshuffle the portfolios of several other federal ministers in the coming days after recovering from COVID-19.

Hafeez Shaikh’s Defeat Against Gilani in Senate Elections:

Moreover, the decision regarding Shaikh’s replacement came after a major electoral battle, former Prime Minister and Opposition Leader Yousaf Raza Gilani had secured victory against PTI’s Dr. Abdul Hafeez Shaikh.

Gilani had gained 169 votes whereas Abdul Hafeez Shaikh could only gain 164 votes.

Back in 2019, Hafeez Shaikh had been appointed Advisor on Finance amidst the cabinet reshuffle, after Minister for Finance Asad Umar tendered in his resignation.

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Large scale manufacturing posted growth of 9.1% in January, Hammad Azhar

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Hamad Azhar

Large Scale Manufacturing (LSM) has faced a growth of 9.1 percent in January, federal Minister for Industries and Production Hammad Azhar said on Tuesday. He announced in a tweet on Tuesday that the sustained and robust growth in the industry is expected to lift economic growth beyond earlier forecasts. Large scale manufacturing has posted a … Read more

Hammad Azhar self-isolating at home after testing COVID-19 positive

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Hammad Azhar

Federal Minister for Industries and Production Hammad Azhar has on Monday announced about his COVID-19 diagnosis.

The minister took to his Twitter handle and revealed that he has been self-isolating at home after testing positive for the infection.

“I have tested positive for Covid-19 and self isolating at home. Requesting everyone for prayers. JazakAllah Khair,” he wrote.

Soon after Azhar informed about his positive test for Coronavirus, Politician Raza Haroon and federal minister Zartaj Gul Wazir prayed for the minister’s speedy recovery.

“Get well soon. Prayers for you,” tweeted Zartaj Gul Wazir.

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