Dar Appointed Pakistan’s Finance Minister as Growth Falters

Pakistan’s Prime Minister Nawaz Sharif appointed 25 ministers to his cabinet, giving the key finance and energy portfolios to close aides as the new government faces a sluggish economy and entrenched energy shortages.

President Asif Ali Zardari administered the oath to 16 federal and nine junior ministers at the presidential house in Islamabad yesterday, with two ministers from Sharif’s smaller coalition partners. Mohammad Ishaq Dar was named Finance Minister and Khawaja Muhammad Asif will oversee the Water and Power ministry, according to a government notification issued late yesterday.