Pakistan’s Finance Minister Resigns Amid Economic Crisis

Pakistan's Finance Minister Resigns Amid Economic Crisis (SAMA)

Islamabad, MINA – Pakistan’s Finance Minister Miftah Ismail said he would formally resign from his post amid an economic crisis exacerbated by recent devastating floods.

He became the fifth finance minister to resign in less than four years.

“I verbally resign as Minister of Finance,” Ismail said in a Tweet on Sunday. As reported by Al Jazeera.

“I will submit my formal resignation after reaching Pakistan,” he added.

Ismail is currently in London and will return to Pakistan early next week.

Pakistan’s economy is experiencing its worst crisis with the transaction deficit and rising inflation putting pressure on the government and its people.

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This month’s devastating floods added to the crisis by causing damage estimated at $30 billion and killing more than 1,500 people.

The World Bank said on Saturday, it would provide assistance of about $2 billion (more than Rp. 30 trillion) to Pakistan. (T/RE1)

Mi’raj News Agency (MINA)