Efforts on to find Asad Umar’s replacement

Following Asad Umar's removal as Finance Minister, speculations regarding who will occupy the pivotal cabinet position are rife. 

Meanwhile certain names have emerged  regarding who might possibly be appointed as the next Finance Minister including Omar Ayub. 

Moreover, it is also being speculated that Ishrat Hussain, Hafeez Pasha and Salman Shah might take charge as finance advisers.

According to reports, former Finance Minister Shaukat Tarin was also on the list. However, he has turned the offer down.

As per sources, former Governor of State Bank of Pakistan Ishrat Hussain, who presently serves as advisor to Prime Minister Imran Khan for institutional reforms & austerity, is a strong contender for the position.

Earlier on Thursday, Finance Minister Asad Umar announced to quit the Federal Cabinet instead of taking the energy ministry as desired by Prime Minister Imran Khan.

In a social media message, the PTI’s finance guru stated that the prime minister wants him to take charge as energy minister.

However, Umar added that he does not wish to take charge of any other ministry, and would rather not be a part of PM's cabinet anymore.

"As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance. However, I have obtained his consent to not take any cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah will make a naya pakistan," reads Umar's tweet.