ISLAMABAD – The CEO of Pakistan’s largest bank was appointed as a federal minister, according to a government document seen by Reuters, and sources said he was likely to be appointed Finance Minister as the South Asian nation looks to tide over a troubling time for its economy.
Muhammad Aurangzeb, currently the chief executive officer and president of HBL bank, was picked over several veterans previously involved in handling the troubled $350 billion economy, including four-time finance minister Ishaq Dar.
Dar was also named a federal minister, according to the document and is likely to get the foreign ministry portfolio, sources said.
(Reporting by Asif Shahazad, writing by Shilpa Jamkhandikar; Editing by Kim Coghill)
