ISLAMABAD: The federal government Monday appointed Shaukat Tarin as advisor to the prime minister on finance and revenue after his six-month constitutional tenure as the country's finance minister expired on October 15.
According to a notification issued by the Cabinet Division, Shaukat Tarin's new status will be equivalent to that of a federal minister.
"The president, on the advice of the prime minister, has been pleased to appoint, with immediate effect, Shaukat Fayyaz Ahmed Tarin as Adviser to the Prime Minister on Finance and Revenue, with the status of federal minister," reads the notification.
Tarin needed to be elected to as senator, which was a prerequisite, to continue in his post for longer than six months.
Prime Minister Imran Khan had appointed Tarin as the finance minister in a federal cabinet reshuffle, replacing Hammad Azhar, only a few weeks after he was given the portfolio.
As the finance minister's six-month term ended, as per law, Tarin will not be able to chair the Economic Coordination Committee (ECC) and other cabinet committees.
Once Tarin has been elected as a senator, he will get his finance ministry portfolio back, sources added.
Shaukat Tarin's tenure as finance minister ends
Earlier on October 15, the government had decided to appoint Shaukat Tarin as the Advisor to Prime Minister on Finance, as his six-month tenure as the finance minister was expiring that day.
Tarin was supposed to get elected as a senator — a prerequisite to continue as finance minister — as the six-month time limit to elect him as a member of the Parliament was expiring that day.