Asad Umar steps down as Pak Finance Minister

Pakistan Finance Minister Asad Umar on Thursday stepped down from the position after Prime Minister Imran Khan asked him to take the Energy portfolio.

Umar wrote on his official twitter handle, "As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance. However, I have obtained his consent to not take any cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah will make a naya pakistan."

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In a press conference held hours after his announcement, Umar said that he hopes his successor will be supported in the efforts to take difficult decisions for the "sake of the nation".

"What I want is that whoever comes in is supported when they make difficult decisions for the sake of the nation," Dawn quoted Umar as saying.

"I need to thank the PTI's youth for their enthusiasm. I need to say that when we came in, the economy was in a dangerous and sorry state, we were standing near a ditch, one move and we would have been in the ditch. The state of the economy is still not great [and] the next finance minister that comes in will still have a hard time," he added.

Notably, Pakistan on Tuesday reached on an agreement with the International Monetary Fund (IMF) for the multi-billion aid to the debt-ridden country.

The exact size of the package is yet to be decided, however, Umar had apprised that it would be between USD 6 billion and USD 8 billion.