PBF calls for political finance minister

LAHORE: The Pakistan Business Forum (PBF) has said that entrusting a technocrat with the role of finance minister would pose significant challenges for the country amid the current economic climate. “Any technocrat may struggle to negotiate a deal that balances economic stabilisation with the growing hardships faced by the people, potentially raising concerns about conflicts of interest,” said Khawaja Mahboobur Rehman, President of the PBF. “PBF views Ishaq Dar as someone who has earned a reputation as a ‘tough negotiator’ with the IMF and remains a viable option,” said Rehman during a media interaction on Thursday. He urged the prime minister (in-waiting) to appoint a politician as the finance minister to better grasp the local dynamics. Rehman strongly demanded that the incoming government re-evaluate the policy of continually raising energy prices immediately. In particular, the decision to increase the captive gas price to Rs2,750/MMBtu, marking a 223% increase since January 2023, which Rehman insists poses a grave threat to Pakistan’s industrial sectors, with a complete collapse looming.