Pakistan Finance Minister Ishaq Dar is one of the names in consideration by the ruling Pakistan Muslim League-Nawaz (PML-N) party to be proposed for the post of caretaker Prime Minister after Shehbaz Sharif’s resignation announcement earlier this month, as per local media reports.

The PML-N is considering proposing Dar’s name as caretaker PM as part of a plan to ensure the implementation of economic policies and expedite the process of receiving foreign investment in state-owned entities, PTI reported citing sources in local media.

The final decision for Dar’s candidature will be taken next week in consultation with PML-N’s ally, the Pakistan Peoples Party (PPP), one of the two main coalition parties. The name of former Pakistan finance minister Hafeez Shaikh is also making rounds for the post of caretaker PM.

The reports come after current PM Shehbaz Sharif announced that his government would transfer power to an interim authority in August to steer it through the general elections. 

“Our government will complete its term next month. We will hopefully go before the tenure’s completion and the new interim government will take over,” he said.

Meanwhile, sources from the PML-N said that the government was mulling changes in Pakistan’s Elections Act of 2017 to enable the caretaker authority to take economic decisions in an attempt to revive the country’s economy. The amendments might be introduced in the National Assembly next week.

The caretaker government has power in decisions involving day-to-day, non-controversial and urgent matters. The government’s push to introduce amendments is aimed towards enabling the interim authority in making major policy decisions regarding the national economy.

PML-N sources reportedly asserted the continuation of the current economic team as vital for the implementation of all fiscal measures.

It is worth mentioning that the cash-strapped Pakistan a major relief as the International Monetary Fund (IMF) gave a final nod to a $3 billion “stand-by arrangement” early this month for the country to support the government’s efforts to bring the nation back from total economic collapse.

Discussions between the international money lender and Pakistan were stalled in December last year after the former delayed the release of a crucial tranche of $1.1 billion from the bailout.

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