ISLAMABAD: Prominent banker Sultan Ali Allana expressed his inability to accept the new government\’s offer of joining the cabinet as finance minister due to his preoccupation.
According to media reports, Allana, the chairman of HBL, was the first choice of the new government for the key post because of his experience and expertise in handling financial matters. However, due to his preoccupation, especially with the Aga Khan Fund for Economic Development’s international projects, he was unable to accept the offer.
As a result, the government decided to appoint another well-known banker and HBL chief executive officer Muhammad Aurangzeb, as the finance minister though former minister Ishaq Dar was among the top contenders.
The Roshan Digital Program was the brainchild of Sultan Allana, who also played a key role in removing Pakistan from the FATF grey list.
He knows that taking Pakistan’s finances and economy towards stability is not an easy task of short- term exercise. It requires fundamental restructuring f in many areas and critical decisions for which he may not find breathing space in a political milieu where every governing party is focused in winning the next elections and hence always appeasing the electorates by different half- baked piecemeal programs.