| Mohammad Ishaq Dar محمد اسحاق ڈار |
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 Ishaq Dar attending the Parliament of Pakistan's session |
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| In office 1998 – 2008 |
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| Preceded by | Salman Shah |
| Succeeded by | Naveed Qamar |
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| Born | 13th May, 1950 Lahore, Pakistan,  |
| Political party | Pakistan Muslim League (N) |
| Alma mater | Institute of Chartered Accountants in England & Wales |
| Religion | Islam |
Senator Mohammad Ishaq Dar (Urdu: محمد اسحاق ڈار) is the former Finance Minister of Pakistan and Minister for Economic Affairs and Statistics in the PM Yousaf Raza Gillani cabinet. He also served as the Commerce and Finance Minister in the Nawaz Sharif cabinet of 1997-1999. The first time Dar was seen on the political field was in 1992 when he was chosen as the Minister of State. In May of 1998 when Dar was the Commerce Minister Pakistan tested its nuclear weapons and the world responded with heavy sanctions against Pakistan. The economy nose-dived and Sartaj Aziz could no longer cope with the economic stress, hence Dar was called upon for an economic rescue as the new Finance Minister of Pakistan.
Senator Dar continued on the post till the Sharif government's overthrow by the military coup of General Pervez Musharraf. Ishaq Dar is also a central leader of PML-N and the parliamentary leader of PML-N in the current Senate session of 2006-2009. The first time Dar was elected for National Assembly was in the 1993 general elections and later in 1997 when he won the NA-97 Lahore-VI general seat. Dar was elected senator for the first time in 2003 and later in 2006 he was re-elected as the senator unopposed for the tenure ending in 2012.
Dar's economic policy achievement in the Sharif government was export-led growth as a cornerstone of economic strategy. Being made the finance minister in November 1998, he negotiated an IMF rescue package to meet an economic crisis triggered by sanctions over nuclear tests in May that year. The head of a state-run bank later proclaimed that "Whether you call it voodoo economics or Darnomics, he has moved things," referring Darnomics as the unique working of Ishaq Dar when he refused to accept a devaluation or a rise in utility charges or tax rates.[1]
PML-N was reluctant in joining the cabinet due to their differences on the judiciary issue in 2008. PPP however forced PML-N to join the cabinet specially desiring Ishaq Dar's expertise in the Finance ministry. The highly renowned chartered accountant seemed to be the only hope for Pakistan's nose-diving economy. Recently, the Finance Minister of Pakistan, Shaukat Tarin has admitted that Ishaq Dar played a vital role in helping the government clinch the NFC award. He has constantly iterated the need to spend within one's means in order to help Pakistan's economy genuinely grow. Ishaq Dar comes across as a strong contender for the post of Finance Minister, if and when the Sharif government comes to power; a wise choice given the man's expertise in the area of finance.
Unfortunately PML-N ministers including Ishaq Dar later resigned from the cabinet due to their differences with PPP on judiciary issue. Senator Dar is a member of number of standing committees and also chairs the Standing Committee on Industries and Production. Senator Dar is also the chairman of the University of Health Sciences, Punjab.
References
- ^ Augustine Anthony, "New Pakistan finance minister will have tough job" The Guardian, March 16, 2008
External links
| Political offices | ||
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| Preceded by Sartaj Aziz |
Finance Minister of Pakistan 1998 – 1999 |
Succeeded by Shaukat Aziz |
| Preceded by Salman Shah |
2nd term 2008 |
Succeeded by Naveed Qamar |
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