Pakistan’s new finance minister, Muhammad Aurangzeb, takes charge when Pakistan’s economy is going through the most turbulent period in history.
He is a prominent banker and JPMorgan Chase & Co. alumnus.
According to Reuters, Aurangzeb left behind an annual salary of $1.28 million (352 million Pakistani rupees).
He was one of the highest-paid CEOs in the country.
Additionally, after taking charge of the cabinet, he also announced that he would not draw a salary and would work without taking any money.
As per Bloomberg, a former government adviser, Mosharraf Zaidi, said, “Broadly, the finance minister's job is to manage and steer the economy. It seems simple when framed this way. In fact, it is one of the most complex jobs on the planet."
In an interview in his ministry in Islamabad Aurangzeb said, "This is the time to actually capitalise on that mandate and ensure that all the tough decisions that need to be taken are taken now.”
He furthered, "We should consult with everyone; we should try to build a consensus, but for a few things, we'll just have to bite the bullet and do it."
Moreover, the Pakistani news agency reported the Finance Minister of Pakistan is set to meet with the IMF managing director, Kristalina Georgieva, and United States Assistant Secretary of State for South Asia, Donald Lu, in Washington next week.
Aurangzeb will attend the World Bank IMF Spring meeting, and his team may also discuss an Extended Fund Facility (EEF) with the IMF.
